News Summary: Fewer US homes on foreclosure track

News Summary: US homes entering foreclosure process slowed to near 8-year low in August

Associated Press

FORECLOSURE STARTS: Foreclosure listing firm RealtyTrac says that the number of U.S. homes that entered the foreclosure process in August fell 8 percent from July and declined 44 percent from a year ago. The August total was the lowest since December 2005.

COMPLETED FORECLOSURES: Lenders repossessed 39,277 homes in August, up 6 percent from July and the third monthly increase in four months. Completed foreclosures fell 25 percent versus August last year.

SIX-YEAR-LOW: At the average monthly pace so far this year, the U.S. is on track to end the year with the fewest homes repossessed by lenders in six years.

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