April marks the 43rd month in a row that foreclosure activity in the United States has dropped, with a 1% decrease from March to April alone, Reuters reported on May 15.
According to RealtyTrac vice president Daren Blomquist, “What this means is that we are getting closer to pre-recession levels of foreclosure activity.”
Even if foreclosure activity is down overall, April saw a 4% increase in bank repossessions. However, Blomquist also mentioned that this is a positive sign that the markets are working through the last of the foreclosures left from the recent housing crisis. Moreover, the number of foreclosure auctions has also been down.
At Hong Law, PLC we understand that foreclosure is a terrifying and stressful experience. Fortunately, our attorneys have a wide array of experience defending homeowners against foreclosure. Contact our offices at (319) 632-1400 to see if we may be able to help with your situation.
Coralville, IA 52241
Phone: (319) 354-1804
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