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Number Of Foreclosures Down 8% For November
By Joanie Miller | December 10, 2009
In a story about foreclosures in the United States, the Associated Press has stated foreclosures are down 8% for the month of November. They did note, however, that a new wave of foreclosures is expected to hit next year. While that may not be the best news, Panama City foreclosures continue to be the most sought-after gem in our real estate market.
The number of homeowners on the brink of foreclosure fell in November, the fourth straight monthly decline, as mortgage companies evaluated whether borrowers were eligible for help.
Nearly 307,000 households, or one in every 417 homes, received a foreclosure-related notice in November, down 8 percent from a month earlier, RealtyTrac Inc. said Thursday. Banks repossessed about 77,000 homes last month, down slightly from October.
Millions of borrowers are still being evaluated for the Obama administration’s foreclosure prevention effort. States are also trying to delay the foreclosure process, temporarily lowering foreclosure numbers.
You can read the entire article online here. For a list of foreclosures in Panama City, feel free to browse the distressed properties section of our website.
[image credit: respres via Flickr]
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