Quantcast

Foreclosures hit lowest levels since Dec. 2006 - Live5News.com | Charleston, SC | News, Weather, Sports

Foreclosures hit lowest levels since Dec. 2006

People are becoming more financial stable and keeping their homes, according to recent numbers. (Source: FILE/CNN) People are becoming more financial stable and keeping their homes, according to recent numbers. (Source: FILE/CNN)

(CNN) – The longest national foreclosure nightmare seems to be nearing its end.

Recent numbers from estate website Reality Trac Inc. show foreclosure filings hitting their lowest level since before the housing bust.

Lenders initiated the foreclosure process on just over 57,000 homes last month, the lowest level for any month in seven and a half years.

Reality Trac's vice president says foreclosure filings have plunged so fast, the housing market could be back to pre-mortgage meltdown levels before the end of the year.

Copyright 2013 CNN. All rights reserved.

Powered by Frankly