Mortgages and foreclosures is trending Thursday as foreclosures and repossessions fell to their lowest level since 2007 last year, according to RealtyTrac. About 1.9 million homes entered into foreclosure in 2011, the lowest number in about four years. RealtyTrac said many foreclosures have been delayed, so not only is this not necessarily a sign of a turnaround the firm actually expects 2012's foreclosure rate will be higher than it was in 2011. It does believe it will stay below the foreclosure rate of 2010. RealtyTrac said one in every 69 homes had at least one foreclosure filing in 2011, compared to 2010 when one in every 45 homes had at least one filing. Nevada had the most foreclosures for the year, where one out of every 16 households received a default notice. Arizona was second and California had the third-highest foreclosure rate.
Ford ( F) is another hot topic as the company is recalling about 450,000 vehicles due to safety risks. The company is recalling over 244,000 Ford Escape SUVs from model years 2001 and 2002 due to a fire risk. It's also recalling nearly 206,000 Freestar and Mercury Monterey minivans from 2004 and 2005 as they risk suddenly losing power.
The chatter on Main Street (a.k.a. Google, Yahoo! and other search sites) is always of interest to investors on Wall Street. Thus, each day, TheStreet compiles the stories that are trending on the Web, and highlights the news that could make stocks move. -- Written by Brittany Umar.