In the News: Foreclosure Fillings Fall 8% in November

The housing market is showing small signs of improvement. According to CNNMoney.com, foreclosure has continued to decrease for the fourth consecutive month. In the month of August foreclosure filling dropped 1%, followed by September 4%, October 3% and November 8%. The online marketer of foreclosed properties, RealtyTrac reported that there were 306,627 fillings last month. RealtyTrac CEO, James Saccacio issued  a statement to CNN saying, “Loan modifications and other foreclosure prevention efforts, along with the recently extended and expanded homebuyer tax credit, are keeping a lid on the most visible symptoms of the nation’s ailing housing market foreclosures and home value depreciation.” Although these small signs of hope are seeping through, the housing market is yet to recover. The November foreclosure numbers are 18% higher than those in November 2008.

GrandaddyDioR

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