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Foreclosures Fall to Lowest Since ’07 as Housing Rebounds

Foreclosure filings fell last month, capping a year in which the number of homes in the repossession process dropped to the lowest level since 2007 amid rebounding U.S. property prices.

Default, auction and repossession notices in December fell 1 percent from the previous month and 28 percent from a year earlier, RealtyTrac said in a report today. About 1.36 million U.S. properties received foreclosure notices last year, a 26 percent decrease from 2012 and 53 percent plunge from the peak in 2010 when 2.9 million properties got filings. One in 96 households received at least one notice during the year, according to the Irvine, California-based data seller.