Home foreclosures fall second time in 3 months

NEW YORK - Home foreclosure filings fell in November from October, though they may remain at elevated levels as rising payments on adjustable loans pressure borrowers, a real estate data company reported on Wednesday.

The hardest-hit states were Nevada and Florida, where price gains were among the strongest during the housing boom.

Lenders filed 201,950 foreclosure filings last month, down 10 percent from October, for a foreclosure rate of one in 617 households, according to RealtyTrac. Total filings were up almost 68 percent from November 2006, said the firm, which markets foreclosed houses.

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source: msn.com