Foreclosures decline for the first time since 2006

08/26/2010 | New York Times (tiered subscription model), The

The Mortgage Bankers Association said that the number of loans going through the foreclosure process dropped in the second quarter -- the first time in four years. Other measures of delinquency also fell, indicating that the housing market may have seen the peak of the foreclosure crisis. However, the situation may not last as the economy remains weak and the housing market is deteriorating.

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