US Foreclosures Fall in May

Posted June 16th, 2011 at 2:25 am (UTC-5)
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The number of U.S. homes seized by banks fell in May as processing delays impeded foreclosures.

Banks took control of nearly 67,000 homes in May. That total is down four percent from April, and a drop of 29 percent from a year ago.

RealtyTrac reports that Nevada again has the nation’s highest foreclosure rate with one in every 103 homes seized by banks. Arizona, California and Michigan were also among the highest foreclosure rates in the United States.