posted on October 11, 2012 15:50
Foreclosure activity across the country is at a five-year low. RealtyTrac says foreclosure filings dropped five-percent in the third quarter.
Some states hit hardest by the housing market crash like California, Michigan and Arizona had dramatically lower foreclosure filings for the quarter. States that require a judge in the foreclosure process are having a more difficult time.
New Jersey, New York and Pennsylvania showed big jumps in foreclosure activity during the third quarter. More than three million homes across the U.S. have either delinquent mortgages or are already in the foreclosure process, despite the continuing decline in foreclosures.