Real estate research firm RealtyTrac reported on February 13 that the number of U.S. homes that have filed for foreclosure was reduced last month by 18 percent compared to January in 2013.

According to reports, there were only 57,259 U.S. homes in January that began the foreclosure process, or one in every 1,058 homes, a 12 percent decline from the same month last year. Data from RealtyTrac showed that there were at least 124,419 homes in the U.S. that were in different phases of the foreclosure process.

The number of houses that were either repossessed by banks or other investors also declined in January by 4 percent from December.

Our lawyers at Hong Law, PLC, know that many homeowners in Cedar Rapids are currently facing the threat of foreclosure. To find out what your legal options may be for keeping your home in this situation, call (319) 294-5853. We can help you potentially take action to prevent foreclosure.