A mixed bag on foreclosures
Foreclosure filings dropped 7 percent last month, according to the most-recent report from RealtyTrac.
But don’t start celebrating an end to the housing meltdown quite yet. While a drop in the number of foreclosures certainly is a good thing, the numbers indicate that this is simply a lull in the storm.
November’s foreclosure filings fell to one in every 488 homes in the nation. While down from October, the pace of foreclosures was still 28 percent above last year.
And that drop in November? Primarily due to temporary foreclosure prevention efforts such as Fannie Mae and Freddie Mac’s “keep your home for the ...