The foreclosure rate in the state of Iowa was observed to decline last year by 1.5 percent, a report published by the Business Record on Wednesday, January 29 stated.

According to the data of real estate research firm CoreLogic Inc., at least 4,624 houses were completely foreclosed in the state last year. On the other hand, the foreclosure rate nationwide last year was 2.1 percent, or a total of 620,111 completed foreclosures. Last year’s nationwide foreclosure rate was 24 percent lower compared to 2012, in which 820,498 homes were foreclosed.

Though the decrease in the state’s foreclosure rate is good news, the lawyers at Hong Law, PLC, know that a lot of Cedar Rapids homeowners are still facing the threat of foreclosure. If you are going through a financially difficult time, call us at (319) 294-5853 to explore your options for keeping your home and addressing debt.