In April, foreclosure filings, including default notices, scheduled auctions, and bank repossessions, were down 9.0 percent from the previous month and 34 percent below last year’s levels, according to RealtyTrac’s U.S. Foreclosure Market Report. James J. Saccacio, chief executive officer of RealtyTrac, said foreclosure activity decreased on an annual basis for the seventh straight month bringing it to a 40-month low but cautioned that the slowdown is due, in part, to processing delays. Default notices were filed for the first time on 63,422 properties, a 39 percent drop from last April. More here and here.
