RealtyTrac, the largest firm tracking and addressing the market for foreclosed and otherwise distressed real estate, reported that foreclosures in 2001 dropped 34% from the number foreclosed in 2010.
But the firm also warned that the dip represented more of a blip in the trend than the housing market's return to health.
The sources of the blip were the scandals over shoddy paperwork and allegedly improper foreclosure proceedings that generated settlements between major mortgage servicers and state attorneys general, the company said.
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