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Fewer homes in foreclosure, but late payments rise

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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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