A recent report from CoreLogic revealed that overall foreclosure rate in the U.S. have decreased compared to last year, an article from Housing Wire reported on September 8.

According to reports, a 27.9 percent decrease in national foreclosure inventory was recorded in the U.S. last July compared to the same month last year. Completed foreclosures also fell from 50,000 houses last year to 38,000 this year. From the 1.7 percent recorded nationwide foreclosures recorded in 2014, this year has only seen 1.2 percent. In Iowa, there were 3,670 homes that had completed foreclosure procedures this July, compared to 5,372 homes recorded in the same month in 2014. The state of Florida remained number one in the top five states with high rates of completed foreclosure.

When your home is being threatened with foreclosure, it is important that you work with an experienced lawyer in order to possibly prevent foreclosure. Consult with a Hong Law, PLC lawyer in Cedar Rapids today by calling (319) 294-5853 to know more of your options.