Foreclosures Dip To Lowest Since 2007

(Undated) -- Foreclosure filings dropped last month. RealtyTrac says default, auction and repossession notices in December took a one-percent dive from the previous month and were down 28 percent from a year earlier. The number of homes in the repossession process declined to the lowest level since 2007 amid rebounding U.S. property prices. Stronger buyer demand and tight inventories of available properties are helping homeowners dodge foreclosure by selling and allowing banks to dispose of seized houses.