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Nationwide foreclosure down 28 percent from last year

A recent report from CoreLogic revealed that overall foreclosure rate in the U.S. have decreased compared to last year, an article from Housing Wire reported on September 8.

According to reports, a 27.9 percent decrease in national foreclosure inventory was recorded in the U.S. last July compared to the same month last year. Completed foreclosures also fell from 50,000 houses last year to 38,000 this year. From the 1.7 percent recorded nationwide foreclosures recorded in 2014, this year has only seen 1.2 percent. In Iowa, there were 3,670 homes that had completed foreclosure procedures this July, compared to 5,372 homes recorded in the same month in 2014. The state of Florida remained number one in the top five states with high rates of completed foreclosure.

When your home is being threatened with foreclosure, it is important that you work with an experienced lawyer in order to possibly prevent foreclosure. Consult with a Hong Law, PLC lawyer in Cedar Rapids today by calling (319) 294-5853 to know more of your options.

G&R Feed and Grain Co. Files for Bankruptcy

Dozens of creditors stand to lose millions of dollars after a grain and feed company in Portsmouth, Iowa filed for bankruptcy.

The company, G&R Feed and Grain Co., filed for Chapter 7 bankruptcy in federal court earlier this month. About 60 creditors, mostly individuals from Shelby County, were listed as creditors in related court documents. At this time, debt estimates for the company are between $1 million and $10 million, while the company’s assets are estimated at $50,000.

A creditors meeting will take place next month on February 19th at 1 p.m.

If your company is facing bankruptcy, make sure that your rights and interests are protected throughout bankruptcy proceedings. Contact the experienced business bankruptcy lawyers of Hong Law, PLC, today by calling (319) 294-5853.