The Main Stream

May 17, 2012 1:39 AM

Report: Fewer US homes foreclosed upon in April

LOS ANGELES, CA - New foreclosure data show that the number of U.S. homes seized by banks declined in April, while fewer properties entered into the foreclosure process.

Foreclosure listing service RealtyTrac Inc. says that home repossessions fell 7 percent from March and dropped 26 percent from April last year.

The number of homes that lenders placed on the foreclosure path last month fell 4 percent from March and dipped 2 percent from April 2011.

Still, state-level data point to potentially more home repossessions ahead in many of the 26 states where courts must sign off on foreclosures.

Foreclosure activity across these states combined jumped 15 percent versus April last year.

Many have a logjam of pending foreclosure cases that now has lenders playing catch-up, driving foreclosure activity higher in those states.

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