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Foreclosure Rate Holding Steady

A new report shows the number of U.S. households threatened with foreclosure has been holding steady.

The numbers from August are another sign that lenders' efforts to help distressed borrowers may be having an impact. Analysts note, however, that one month doesn't make a trend.

RealtyTrac reports that more than 358,000 foreclosure-related filings were recorded in August. That means one in 357 U.S. homes received a foreclosure filing. That's up 18 percent from a year ago. The number includes default notices, scheduled auctions and bank repossessions.

Data also shows mortgage companies are ramping up their efforts to help troubled borrowers modify loan payments to make them more affordable. RealtyTrac reports that bank repossessions dropped 13 percent from July.

Nevada had the nation's highest foreclosure rate for the 32ND-straight month. Next were Florida, California, Arizona and Michigan.


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