FinancialsForeclosure activity drops in February
The number of properties receiving a foreclosure-related notice fell to a 36-month low in February, likely due to lenders stepping back during investigations into the foreclosure process. Foreclosure listing firm RealtyTrac Inc. reported that 255,101 properties received at least notice in February, down 14 percent from January and 27 percent from February of last year, BusinessWeek reported. The firm tracks default notices, notices of scheduled home auctions and home repossession notices.