Bank repos at lowest level in 65 months

RealtyTrac: Foreclosure starts up, particularly in judicial states

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As housing markets continued to recover and with spring buying season just around the corner, repossessions of homes in February plunged to a 65-month low, RealtyTrac reports.

The number of homes entering real-estate owned (REO) inventory fell to 45,038 in February, down 11 percent from January, according to RealtyTrac’s February 2013 U.S. Foreclosure Market Report. Year-over-year, the number of homes repossessed plunged 29 percent, to the lowest level since September 2007, RealtyTrac said.