Foreclosure filings continue their downward spiral, dropping to the lowest level in January since April 2007, according to RealtyTrac's latest report.
Filings — which include notices of default, scheduled auctions, and bank repossessions — dropped 28 percent in January year-over-year.
"We're now well past the peak of the foreclosure crisis," says Daren Blomquist, spokesman for RealtyTrac.
Still, the foreclosure problem has a ways to go: Filings remain at double the pace of 2005, and foreclosure auctions are on the rise in 26 states.
"It's likely that by this time next year, we'll start to see 2005-type, pre-crisis numbers again," Blomquist says. Read more... | Realtor Magazine:
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