Recent data shows that nationwide foreclosure filings increased in the third quarter of this year. This is the first quarter that foreclosure filings have increased since the last quarter of 2010.
1 in 213 properties in the United States were foreclosed upon in the third quarter of 2011. In total, 610,337 properties were repossessed.
Experts predict there will be a total of between 2 million and 2.1 million foreclosures this year, or 30 percent fewer foreclosure than last year.
CEO of RealtyTrac, a real estate statistics provider, James Saccacio says, “There is evidence that this temporary downward trend is about to change direction, with foreclosure activity slowly beginning to ramp back up.”
If your home is being foreclosed upon and you are seeking the help of an experienced attorney, contact the Birmingham foreclosure defense lawyers of Greenway Bankruptcy Law, LLC at (205) 324-4000 to learn more about how we can help you.