A recent RealtyTrac Inc. report shows that nationwide foreclosure filings are finally going down.

April is the first month this year that has seen the number of foreclosure filings nationwide fall, with a 2 percent overall decrease. Some states, like New York, experienced a drop of up to 23 percent.

“There were two important milestones in the April numbers that show foreclosure activity has begun to plateau — but at a very high level that will not drop off in the near future,” said James J. Saccacio, chief executive officer of RealtyTrac. “April was the first month in the history of our report with an annual decrease in U.S. foreclosure activity. Secondly, bank repossessions, or REOs, hit a record monthly high for the report even while default notices dropped substantially on a monthly and annual basis.”

“We expect a similar pattern to continue for most of this year,” Saccacio said, “with the overall numbers staying at a high level and ripples of activity hitting the various stages of the foreclosure process as lenders systematically work through the backlog of distressed properties.”

California, Florida, Michigan, Illinois, and Nevada foreclosures account for more than 50 percent of the nation’s total filings. Nevada leads the pack with one in every 69 homes receiving a foreclosure filing in April.

If you are facing a foreclosure filing or bankruptcy, contact the New Orleans bankruptcy attorneys of Kervin & Young, LLC, at 504-599-5906.