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RealtyTrac counted a total of 154,281 U.S. with filings — default notices, scheduled auctions, or repossessions — last month. The number is up 2 percent from January, but is down a full 25 percent from February 2012.

The number of entering the foreclosure pipeline also declined 25 percent from a year earlier, and bank repossessions tumbled 29 percent year-over-year to land at their lowest volume since September 2007.

“At a high level the U.S. foreclosure inferno has been effectively contained and should be reduced to a slow burn in the next two years,” RealtyTrac says. “But dangerous foreclosure flare-ups are still popping up in states where foreclosures have been delayed by a lengthy court process or by new legislation making it more difficult to foreclose outside of the court system.”

The highest of foreclosure were documented in , Nevada, and Illinois.

Source: http://realtormag.realtor.org/daily-/2013/03/14/foreclosure-filings--25-in-february

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