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Fewer homes in foreclosure, but late payments rise

The percentage of homes in foreclosure dropped nationwide last month, but the percentage of borrowers behind on their payments rose slightly, according to a report released Wednesday.

In sign of continued recovery in the housing market, about 3.44% of mortgages were in some stage of the foreclosure process in December, according to Lender Processing Services Inc., a mortgage and consumer loan processing firm.

Source: LA Times
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