In the short-term, things might be looking up in the housing industry with the news that foreclosure activity is actually down for the third month in a row, according to the October 2009 U.S. Foreclosure Market Report from RealtyTrac.

But that doesn't mean the foreclosure tide is turning, an executive from the company said. "The fundamental forces driving foreclosure activity in this housing downturn — high-risk mortgages, negative equity, and unemployment — continue to loom over any nascent recovery," said RealtyTrac CEO James Saccacio.

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