March Foreclosure Rates Lowest In 5 Years

LOS ANGELES (CBSLA.com) — The number of American homes reposed by lenders in March fell to the lowest level in more than five years, according to Los Angeles-based Realty Trac Inc.

The foreclosure listing firm found that home repossessions fell three percent in March from the previous month and were down 21 percent from a year ago.

In all, lenders repossessed 43,597 homes, the lowest level since September 2007.

California ranked 11th in the nation for foreclosures in March.

The Neighborhood Assistance Corporation of America (NACA) is offering homeowners struggling with their mortgages free help from Thursday through Monday, KNX1070’s Margaret Carrero reports.

The event runs from 8 a.m. to 6 p.m. every day at the South Hall K at the Los Angeles Convention Center.

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