America is finally putting the home foreclosure crisis behind it

New York

IT'S taken nine years, but the number of US homes in foreclosure has fallen to a level not seen since before the 2008 housing crisis.

More troubled borrowers are making their way through the foreclosure process, which can take more than five years on average in some states. The number of properties in active foreclosure declined by 24,000 to 631,000 in March, according to Black Knight Financial Services. That's the lowest since October 2007. Neighbourhoods across the country were in the coming years flooded with more than 2 million notices from banks.