RealEC automates lender closing processes

U.S. foreclosures fall in February mortgagepress.comforeclosures, residential properties, February 2005 According to data released by online foreclosure listing service, Foreclosure.com, 18,824 new foreclosed residential properties were listed for sale in the U.S. during February 2005. The total number of U.S. residential foreclosure properties available for sale in the U.S. during the month of February was 72,877. Compared to January 2005, these numbers indicate a seven percent drop in inventory for both new foreclosures and the total number of foreclosures available for sale in the U.S. "Following a year of heavy growth in foreclosure inventory levels in many parts of the county, foreclosures have leveled off in the first two months of 2005," said Brad Geisen, Foreclosure.com president and CEO. "The seven percent drop in both new and total foreclosures in February can largely be attributed to the short month. Many states with historically high inventories such as Texas, South Carolina, Pennsylvania, Missouri and Florida saw a higher than average decline in February. As a result of this decline, prospective homebuyers should track new foreclosures on a daily basis in order to identify strong property investment opportunities as soon as they arise." For more information, visit www.foreclosure.com.