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