Mortgage Lender Foreclosed Houses Lose Steam in Alabama

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Sales figures for residential properties, including mortgage lender foreclosed homes, declined in Alabama in November. Most analysts stated that the decline is due to the expiration of the tax credit.

Sales of mortgage lender foreclosed dwellings and other types of residential properties continue to lose steam in Alabama in November. Housing units sold in the area declined by 25% in November compared with the same 2009 month according to data released by the Alabama Center for Real Estate. The Center claimed that the decline was mainly due to the end of the federal government's tax credit.