From NPR: The Good And The Bad In July’s Foreclosure Report

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“The default notices, the scheduled auctions — those are at least decreasing on a year-over-year basis,” says Celia Chen, who covers housing markets for Moody's Analytics.

“That means we're working through the problem,” Chen adds. “We're going to feel the pain for a little bit longer, but there is some light at the end of the tunnel.”

But others see things differently.

“We need to be quite cautious in breathing a sigh of relief,” says Marietta Rodriguez of NeighborWorks America, a housing counseling organization.

She says unemployment continues to be a problem, pushing homeowners over the edge. And there's a new crop of loans that will reset in the next year — making the payments harder to handle.

Read from Opportunity 1: Prevent Foreclosures about how philanthropy can help prevent foreclosures: