Repossessions Fall Sharply Over Year Ago

Irvine, CA, Feb. 13, 2014 -- Fewer homes were repossessed in January, as the number of completed foreclosures fell to the lowest level in more than six years, according to tracking firm RealtyTrac.

Lenders repossessed 30,226 homes last month, a drop of 4% from December.

Completed foreclosures were down 40% from a year ago to the lowest level since July 2007.

However, 12 states reported annual increases in foreclosures.

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