Foreclosures returning to pre-housing bust levels

NEW YORK (CNNMoney)

The number of homes lost to foreclosure is closing in on levels not seen since before the housing meltdown.

Foreclosure filings — including notices of default, scheduled auctions and bank repossessions — during the first quarter fell 23% from a year earlier, the lowest level since the second quarter of 2007.

Last month, banks repossessed just under 44,000 homes. In September 2010, repossessions topped 100,000 a month.

“We’re getting back to normal and will be there by next year,” said Daren Blomquist, vice president at RealtyTrac.

 

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