LOS ANGELES-Home repossessions in the US have fallen to its lowest level in November in 18 months due to allegations that banks were handling evictions improperly.
According to RealtyTrac Inc. home repossessions declined 12% and 28% in October and November, respectively, when compared to that of the same periods last year. However, despite the decline, the overall number of home repossessions in 2010 crossed 980,000, the highest it has ever been. Due to the increased scrutiny, many banks have temporarily stalled foreclosure procedures. For the full story, go to San Diego Union-Tribune.
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