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RealtyTrac: Home repossessions declined in June

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By ALEX VEIGA

AP Real Estate Writer

LOS ANGELES (AP) -- Fewer U.S. homes entered the foreclosure process or were repossessed by banks in June, the latest sign that the nation is shaking off its housing bust hangover.

Lenders initiated the foreclosure process on 57,286 homes last month, the lowest level for any month in 7 1/2 years, foreclosure listing firm RealtyTrac Inc. said Thursday.

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