Deleveraging continued in April as homeowners’ financing balances shrunk 29% to $71.5 billion from $100.7 billion in the year-ago month, according to analytics firm Equifax (EFX).

Home finance levels are at their lowest since 2008 when they totaled $74.7 billion.

In April, home equity revolving balances neared $560 billion, down $115 billion from April 2009, and down $43.8 billion from April 2011, Equifax reported.

Foreclosures in-process for home equity revolving credit in the month dropped 37% from same time a year ago. At just under $1.25 billion, it is the lowest in two years, the firm said.

— Justin T. Hilley