Foreclosure Starts Lowest Since 2007

Irvine, CA, Jan. 16, 2014 -- Foreclosure starts fell last year to the lowest level since 2007, according to foreclosure listing firm RealtyTrac.

Foreclosure starts totaled 747,728 last year, down 33% from 2012 and the lowest annual level since 2006, before the housing bubble burst.

Foreclosure starts fell in 37 states but rose in 13 states.

Banks repossessed 462,970 U.S. homes last year, down 31% from 2012 and the lowest level since 2007.

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