Hello neighbors,

According to RealtyTrac , a company that measures default notices, scheduled auctions, and bank repossessions across the country, foreclosure activity is finally starting to decline.

Two main reasons behind foreclosure activity flattening out is the decline in foreclosures and April's record monthly high of 92,432 REO's or properties seized by the bank. This number is actually up 1% from February and up 45% from April of 2009.

The report also showed a considerable drop in default notices on a monthly basis. RealtyTrac reported 103,762 default notices last month which was a 12% decrease in comparison to February and a 27% decrease compared to April 2009 when there was a peek of more than 142,000 in default activity.

As for the top 3 states with the highest foreclosure activity, Nevada came in at number one for the 40th straight month, Arizona took the number two spot, and Florida came in at number three.