Foreclosure filings plunge 27%

Foreclosure filings dropped 27% – the biggest drop recorded yet.

Much of that decrease is attributed to the month of February, as February foreclosure filings were 14% lower than a month earlier.

However, not all of that is necessarily from improving home markets.

“Allegations of improper foreclosure processing continued to dog the mortgage servicing industry and disrupt court dockets,” RealtyTrac CEO James Saccacio said. “The industry is in the midst of a major overhaul that has severely restricted its capacity to process foreclosures.”

For the month, there were still over 225,000 foreclosures filed.