Foreclosure filings down dramatically in the Bay Area

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"Declines in new default notices, which were down on a year-over-year basis for the sixth straight month in July, have been offset by near-record levels of bank repossessions," said RealtyTrac CEO James J. Saccacio.

California alone accounts for 21 percent of the national total of filings in July, with 66,910 properties receiving a foreclosure filing during the month. That's down 3 percent from June and 38 percent from July 2009.

In many Bay Area counties, year-to-year foreclosure filings were down dramatically. They include 15.7 percent in Alameda County, 24.5 percent in San Francisco County, 32 percent in Santa Clara County and 41 percent in Contra Costa County.

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