Real estate research firm RealtyTrac said the United States recently observed its lowest record of foreclosure activity since 2006, World Property Channel stated on July 17.
In the mid-year report recently released by RealtyTrac, there were some 613,874 homes recorded in the U.S. that are in various stages of the foreclosure procedure. The record was reportedly lower by 23 percent compared to last year’s first half and 19 percent lower compared to the last year’s second half. From January to June, there was only one foreclosure for every 214 properties in the U.S. Daren Blomquist, Vice President of RealtyTrac, predicted that foreclosure crisis will be eradicated in less than a year.
Though the nationwide foreclosure activity rate continues to improve, the lawyers at Hong Law, PLC, understand that many Cedar Rapids homeowners are still threatened by foreclosure. If you are experiencing this, we may be able to offer you alternative legal solutions that allow you to defend your home. Discuss your situation with us today by calling (319) 294-5853, and learn how we can help.
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