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5 percent increase in U.S. foreclosure rate


Real estate data provider RealtyTrac revealed on February 12 that foreclosed properties in the U.S. climbed by 5 percent over the past month–making it the highest increase in the last 15 months, Business Insurance reported.


Daren Blomquist of RealtyTrac stated that foreclosure filings are expected to increase in the next few months, as banks tend to increase “spring cleaning” in most states. Just last month, banks repossessed 37,292 residential properties. There were 51,782 houses in January headed for foreclosure auctions. The number of houses that are undergoing foreclosure procedures nationwide, on the other hand, reduced by 4 percent compared to the recorded data in 2014. RealtyTrac still identifies Florida in January as the state with highest levels of foreclosure.


In Birmingham alone, the Greenway Bankruptcy Law, LLC, lawyers believe that many people are struggling to prevent their homes from being foreclosed. If you are experiencing this, we may work for you to defend your home. Call us today at (205) 324-4000 to find out how we may help you through this stressful situation.

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