Foreclosures dropped to lowest level in six years in 2013

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2013 was a banner year in the fight against foreclosures, with filings hitting their lowest level since 2007, CNNMoney reported. Total foreclosure filings for 2013, including notices of default, scheduled auctions and bank repossessions, were reported on 1.36 million properties, down 26 percent from 2012, according to real estate research firm RealtyTrac. With one in every 96 homes being the subject of at least one foreclosure filing in 2013, the national foreclosure rate has dropped to 1.04 percent, close to the historic norm of just below 1 percent. During the 2010 peak of the housing crisis, the national foreclosure rate was 2.23 percent.