Arizona foreclosure activity still heading down

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PHOENIX (AP) -- The number of Arizona homes in some stage of the foreclosure process dropped again in September compared to a year ago, although homes actually repossessed by banks rose slightly.

Data released Thursday by foreclosure tracking firm RealtyTrac shows lenders actually repossessed nearly 3,400 Arizona homes in September, a 2 percent rise from the same period a year ago. But new foreclosure filings dropped to about 3,800 last month.

September saw a 21 percent drop in homes being repossessed or receiving initial foreclosure filings compared to September 2011.

RealtyTrac says one in every 398 Arizona homes was in some stage of the foreclosure process last month.

The state retained its position as the fourth-highest foreclosure activity rate in the nation. Florida jumped to No. 1.