Foreclosure activity hits lowest level since Q4 2007 (CHARTS)

RealtyTrac warns distressed-property 'dam ... will eventually burst'

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Foreclosure filings hit their lowest level in more than four years in the first quarter, according to a report from foreclosure data aggregator RealtyTrac.

Default notices, scheduled auctions, and bank repossessions were filed on 572,928 properties in the first quarter, or one in every 230 U.S. housing units — the lowest number of filings since fourth-quarter 2007, when 527,740 properties received filings.