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US foreclosure inventory has significantly decreased since 2007

A September 13 article released by CoreLogic revealed the foreclosure inventory rate in the U.S. significantly fell in July compared to the same month in previous years, an article of the National Mortgage News stated.

According to reports, the foreclosure inventory recorded in July was an estimated 355,000, compared to the 501,000 recorded in the same month in 2015. CoreLogic also said that completed foreclosures dropped by 16.5 percent compared to previous years. Economist Frank Nothaft attributed the foreclosure decline to the continuous housing industry improvement since the housing crisis. Though foreclosure inventory rates, in general, continue to decline, there are some states, such as North Dakota, which are still plagued by foreclosure.

The attorneys at Greenway Bankruptcy Law, LLC understand that many Birmingham families are facing risks of losing their homes to foreclosure every day. If this situation is happening to you, we may be able to offer you legal assistance to prevent your foreclosure. Call our office today at (205) 324-4000 to find out how we may be able to work on your behalf.

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505 20th St N #1220
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Phone: (205) 324-4000
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Greenway Bankruptcy Law, LLC All rights reserved. We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code. The following language is required pursuant to Rule 7.2, Alabama Rules of Professional Conduct. No representation is made that the quality of legal services to be performed is greater than the quality of legal services performed by other lawyers. This web site is designed for general information only. The information presented at this site should not be construed to be formal legal advice nor the formation of a lawyer/client relationship.

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