NEW YORK -- The number of homeowners on the brink of losing their homes dipped in October, the third straight monthly decline, as foreclosure prevention programs helped more borrowers.
But a report by RealtyTrac Inc. Thursday said foreclosure filings are still up 19 percent from a year ago, and rising job losses continue to threaten the stabilizing trend.
One in every 385 homes received a foreclosure-related notice in October, down 3 percent from September. Banks repossessed more than 77,000 homes last month, down from nearly 88,000 homes in September.
Despite Nevada's legislative efforts to slow foreclosures, the state still clocked in the nation's highest foreclosure rate for
the 34th month in a row, followed by California, Florida, Arizona and Idaho.
The report said the highest rate was in Las Vegas, where in 68 homes there received a foreclosure filing in October, more than five times the national average. Seven of the top ten metros were in California.
