A recent report released by RealtyTrac said that nationwide foreclosure activity was the lowest since the U.S. was plagued by the foreclosure crisis, an article by the World Property Channel stated on July 17.
Last June, there were 613,874 homes recorded in the U.S. in different stages of foreclosure procedures. The recent data was reportedly lower by 23 percent compared to the first half of last year. Also in June, a 4 percent decrease in foreclosures was observed, and bank repossessions decreased by 5 percent compared to the month before. Though overall foreclosure continues to improve, RealtyTrac stated that at least 15 states last month experienced an increase in foreclosure activity.
Though the U.S. foreclosure rate continues to improve, many homeowners are still having troubles honoring their mortgage obligations due to financial difficulties. If you are struggling to avoid foreclosure in Birmingham, the lawyers at Greenway Bankruptcy Law, LLC, may offer you legal solutions to help defend your home. Learn more about how our legal team can help by calling (205) 324-4000 today.