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RealtyTrac: State's foreclosures down sharply

ACROSS MISSISSIPPI — Homes hit by foreclosure filings dropped sharply last month in Mississippi.

Irvine, Calif.-based RealtyTrac says that 185 homes received some sort of foreclosure action in May. That’s down 48.8 percent from April and 48.3 percent from May 2010.

But it was the end of the line for those homeowners. RealtyTrac says that 140 homes were taken back by lenders and 45 others were scheduled for foreclosure sales. Those actions hit one in every 6,930 housing units, ranking the state 47th in the United States.

Nationally, foreclosure actions were aimed at 214,927 properties, or one in every 605 housing units. That was a 2 percent decrease from April and a 33 percent decrease from May 2010.

Source: AP

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