The Real Deal New York

U.S. foreclosures drop to lowest level since 2007

May 09, 2013 06:00PM

Foreclosures across the country dropped to their lowest level in April since 2007, just-released data from RealtyTrac shows.

Last month, 144,790 properties had foreclosure filings. Non-judicial states such as Nevada, Florida, Ohio, Illinois and South Carolina had the highest foreclosure rates, the report said. The foreclosure process does not have to go through the courts in non-judicial states. Florida had the nation’s second-highest foreclosure rate after Nevada, though filings were down sharply since the 2009 peak, said Daren Blomquist of RealtyTrac.

Nationwide, scheduled judicial foreclosure auctions rose 22 percent from March to April and 31 percent from a year ago to the highest level in 30 months, the report said. In the non-judicial foreclosure process, the trustee will schedule an auction date and time if the owner has not provided the loan current. –Mark Maurer