RealtyTrac, a leading source of data about US foreclosures, has reported the numbers of properties in some stage of foreclosure dropped significantly in February, but not because the foreclosure problem is lessening.
The data and foreclosure marketplace reported that 225,101 properties in the U.S. received a default notice or were scheduled for an auction or were repossessed by a lender in February, a 14% drop from January and a 27% drop from February 2010.
But the firm attributed the drop to ongoing problems processing foreclosures more than to any overall uptick in the economy.
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