The housing market is showing some hopeful signs. According to a May 16th article in the Realtor Mag the number of foreclosures is at its lowest in three years.
'The number of foreclosure filings in April dropped 34 percent from a year ago, also marking the seventh straight month of declines, andreaching its lowest level since December 2007.'
Due to improved employment and more home owners making payments a turnaround is expected. Banks are also completing more modifications to loans with a 26% increase from February.
The article lists the top ten states with the highest foreclosure rates: California, Florida, Arizona, Michigan, Nevada, Illinois, Texas, Georgia, Ohio, and Colorado.