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Number of foreclosures drop in 2013, reaching a six year low


A huge improvement in the U.S. housing market was observed in 2013 after the number of homes entering foreclosure not only continued to decrease, but also hit a six year low, according to real estate information firm RealtyTrac.


A decrease of 31 percent was observed in homes being foreclosure upon or repossessed by banks in 2013 compared to 2012. The record was considered to be lowest since America entered the foreclosure crisis in 2007. The number of home entering foreclosure  also declined in 37 states last year.

However, according to RealtyTrac, in December more than 1.2 million homes across America were either undergoing foreclosure procedures or already repossessed by banks but were still unsold.


The legal team at Greenway Bankruptcy Law, LLC, how difficult it is for homeowners in Birmingham to face the threat of foreclosure. If you are in such a situation, call (205) 324-4000 today to speak with a compassionate attorney who can help you explore your options for keeping your home. 

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