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U.S. Foreclosure Filings Fall 4% as Lenders Increase Short Sales

Foreclosure filings in the U.S. fell 4 percent in May from a year earlier as lenders disposed of more properties through short sales, where the price is less than the amount owed, according to RealtyTrac Inc.

Default, auction and repossession notices were sent to 205,990 properties, or one in every 639 households, the Irvine, California-based data firm said today in a report. The decline was the 20th straight on a year-over-year basis.