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Janet K. Hong and Derek Hong are the founding partners of Hong Law, PLC

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Home  >  Foreclosure Defense  >  Lowest foreclosure number in 8 years seen in May

Lowest foreclosure number in 8 years seen in May

U.S. foreclosure activity recently observed an all-time low in the past eight years, a CNBC article stated on June 10.

In May, RealtyTrac data showed that 109,824 homes in the U.S. are in various stages of foreclosure procedures, 6 percent lower than the month before. Compared to last year, May’s foreclosure activity dropped by 26 percent. Last month’s bank repossession only totaled 28,373 and was considered to be the lowest since the U.S. was plagued by foreclosure crisis. RealtyTrac’s Daren Blomquist predicted that by early 2015, the housing market will fully recover.

Though foreclosure activity in the U.S. continues to decline, the lawyers of Hong Law, PLC, know that many Cedar Rapids homeowners are still being threatened by foreclosure. If you or someone you know is in a situation like this, we may possibly work for you to protect your property. Speak with us today at (319) 294-5853 to learn more about your options.

Iowa City and Coralville Office Location: 845 Quarry Rd #130
Coralville, IA 52241
Phone: (319) 354-1804
Map to our Coralville Office