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Foreclosures Hit Lowest Level In 8 Years

The number of new foreclosure filings reached its lowest level in eight years.
The nation may be waking up from its foreclosure nightmar

The number of new foreclosure filings reached its lowest level in eight years.

That's the word from online marketer Realtytrac.

In August, the initial foreclosure filings fell 44 percent to nearly 56,000.

That's just below the more than 56,000 recorded in October 2005.

The company says rising home prices and a big decline in underwater borrowers have helped to drive this trend.
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