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LOS ANGELES — Fewer Americans had their homes repossessed by banks or were put on notice for being behind on their mortgage payments in April compared with a year ago, foreclosure listing firm RealtyTrac Inc. said Thursday.
That would ordinarily suggest improving fortunes for U.S. homeowners, but the decline had less to do with any turnaround in the housing market than with foreclosure processing delays that appear to be getting worse.
In Colorado, which had the nation’s ninth-highest foreclosure rate, one out every 495 homes received a foreclosure notice in April.
