The number of mortgage foreclosure filings plunged for a second consecutive month in September, signifying that foreclosure prevention efforts are showing their worth.

As per figures compiled by the estate data firm RealtyTrac, the number of foreclosure filings including house auctions plus home repossessions by lenders stood at 343,638 in September, representing a decline of 4 per cent as compared with previous month.

However, the number of foreclosures remained historically high. The study showed foreclosures jumped 29 per cent from last year.

Real estate owned properties jumped to settle at 87,821 in September from 76,134 in August.

In the July to September quarter the number of foreclosure filings stood at 937,840, representing a rise of 5 per cent from the last quarter.

RealtyTrac’s CEO James J. Saccacio, said, “Bank repossessions, or REOs, jumped 21 percent from the second quarter to the third quarter, corresponding to jumps in defaults and scheduled auctions in the previous two quarters.”

Nevada, reported the highest state foreclosure rate in the third quarter.

The number of foreclosure filings in Nevada jumped 10 per cent to settle at 47,925 in the third quarter as compared with the last quarter.

Florida, Arizona, Nevada, California, Illinois and Michigan accounted for over 60 per cent of the country’s foreclosures during the third quarter.