Foreclosures ebb, but many Americans still losing homes: study

0 Comments | AFP, October, 2007

WASHINGTON (AFP) — The high number of US home foreclosures ebbed last month, but banks and lenders still filed 223,538 repossession notices against financially stretched Americans, industry data showed Thursday.

RealtyTrac, a California-based firm which tracks foreclosures across the country, said in a monthly survey that the rate of US home repossession notices fell eight percent in September from the prior month.

However, RealtyTrac said the level of September foreclosure notices marked a sharp 99 percent gain compared with the same period last year.

"It's too early to tell if September's numbers represent a one-month lull or if they could signify that more buyers and investors are getting back in the market and snatching up discounted foreclosure...