Us foreclosures fall in february

US foreclosure filings fell 10 per cent in February 2014 compared to January 2014, according to RealtyTrac's latest report.

Default notices, scheduled auctions and bank repossessions were reported on 112,498 homes last month, down 27 per cent year-on-year and the lowest monthly total since December 2006.

“Cold weather and a short month certainly contributed to a seasonal drop in foreclosure activity in February, but the reality is that new activity is no longer the biggest threat to the housing market when it comes to foreclosures,” said Daren Blomquist, vice president at RealtyTrac.