Foreclosure drops in two Tampa Bay counties, but U.S. up 18%

Foreclosure rates have dropped in Pinellas and Sarasota counties, bucking a national trend of near record-high numbers of homes on the brink of being reclaimed by banks. Sarasota witnessed a 17.7 percent drop in foreclosures between August 2008 and last month with 849 filings representing one in every 260 homes, according to a new report from RealtyTrac. Pinellas had a 5.7 percent drop year-over-year with its 1,944 filings representing one in 257 homes in some form of foreclosure. The country as a whole was not as fortunate. Foreclosure rates were up nearly 18 percent nationwide with one in every 357 homes experiencing some level of foreclosure either from a default notice, scheduled auction or bank repossession.

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