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Home  >  Foreclosure Defense  >  U.S. foreclosure rate high but improving

U.S. foreclosure rate high but improving

Five years after the mortgage crisis, an October 2 report on Market Watch said that the nationwide foreclosure level is improving, but still high compared to the normal average.

According to reports from a major foreclosure inventory, rates declined by 33 percent this August compared to the same month last year. Experts predict the market will continue to recover. However, there are about 629,000 U.S. homes in some phase of foreclosure. While that is an improvement from last year’s 936,000 homes listed, it is still three times above the previous national average. Though these rates vary greatly depending on where you are in the country, from 5.8% in New Jersey, to only 0.4% in Nebraska. Iowa is currently reporting a 1.0% foreclosure rate.

The lawyers of Hong Law, PLC understand that many Cedar Rapids homeowners are threatened with foreclosure every year. If you are this difficult situation, our lawyers may fight to prevent this from happening to you. Call (319) 632-1400 to learn more about your options.