“LOS ANGELES (AP) — Lenders took possession of fewer homes in 2012 than a year earlier, but half of states remain hot spots.
The pace of new homes entering the path to foreclosure slowed and banks increasingly opted to allow troubled borrowers to sell their homes for less than what they owed on their mortgage.
All told, banks repossessed 671,251 homes last year, down nearly 17% from 804,423 the year before, according to foreclosure listing firm RealtyTrac.
The trend, along with an annual decline in overall foreclosure activity, suggests that the country’s foreclosure woes are easing, at least on a national level.
But half the states experienced higher levels of foreclosure activity last year and many are expected to continue seeing increases this year, RealtyTrac said….”
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