To be eligible, a borrower must have been in
some stage of the foreclosure process at any time in 2009 or 2010 and had their loan handled by one of the major banks covered by the agreement.
Most properties experience their lowest sale prices at
this stage of the foreclosure process.
There was also a 0.2 percentage point decline in the share of mortgages in
some stage of the foreclosure process.
California had the third biggest decrease among U.S. states in the number of homes in
some stage of the foreclosure process, CoreLogic reported.