National foreclosures drop in February

An estimated 65,000 completed foreclosures were reported in the United States last month versus 71,000 in January and 66,000 in February 2011, according to CoreLogic.

The number of completed foreclosures for the 12 months ended February 29 was 862,000. The study further determined that about 3.4 percent of all homes with a mortgage – 1.4 million residences – were in the foreclosure inventory as of February.