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Foreclosures Fall in U.S. to Pre-Bust Levels: Mortgages

Foreclosure filings in the U.S. fell in June to levels not seen since before the housing bubble burst eight years ago, causing 5.5 million people to lose their homes.

Properties with a default, auction or repossession notice totaled 107,194 last month, down 16 percent from a year earlier and the lowest since July 2006, Irvine, California-based RealtyTrac Inc. said today in a report. Prices peaked a month later and then collapsed amid mortgage defaults that led to a more than 30 percent drop nationally and as much as 60 percent in the hardest-hit communities.