An 18 percent decline in the number of U.S. properties that filed for foreclosure in January 2014 as compared with January 2013 was observed by RealtyTrac, as reported by the Wall Street Journal on Thursday, February 13. However, an 8 percent increase of U.S. homes reportedly in different stages of the foreclosure process was also reported.
In January there were only 57,259 homes that entered foreclosure proceedings, a 12 percent decline compared to same month last year. On the other hand, homes that were repossessed by investors or the government declined last month by 4 percent, an improvement of 40 percent from last year.
According to RealtyTrac, the foreclosure decline reported is considered the lowest since 2012.
Lawyer Ryan J. Really, Attorney at Law, PLLC, knows that in Florida alone, a number of homeowners are still being threatened by foreclosure every year. Fortunately, it may be possible to avoid foreclosure through debt negotiation, bankruptcy, or other legal means. Call us at 513-621-0999 to learn more about your options.