November foreclosure filings down 8 percent

The number of foreclosures filed in November hit 306,627, down 8 percent over the number filed in October, according to the most recent data from RealtyTrac. This was the fourth consecutive monthly decline, with the number of foreclosures filed declining 3 percent in October, 4 percent in September and 1 percent in August, month-over-month. James Saccacio, CEO of RealtyTrac, cited foreclosure prevention efforts and ramped up loan modification programs as key in the decreased number of filings. Even so, the number has yet to rebound from figures seen a year ago. November 2009’s filings were up 18 percent over the number seen during the same time period a year earlier.