A 24.3 percent decrease in the overall foreclosure rate in the United States was observed by real estate information providers, an article of National Mortgage News reported on November 10.

According to CoreLogic, there was a 1.2 percent (about 470,000 houses) drop in the number of homes in different stages of incomplete foreclosure in September when compared to the same month last year. The number of houses that were completely foreclosed upon nationwide was also reduced by nearly 18 percent. CoreLogic also observed that 21.2 percent fewer homeowners are having trouble paying their mortgages, a figure that is considered to be the lowest rate since 2007. CoreLogic CEO and President Anand Nallathambi stated that the improved economy was a factor in declining delinquency rates since the housing crisis.

The lawyers of Hong Law, PLC understand that many homeowners in Cedar Rapids live in fear of seeing their homes repossessed or foreclosed upon. If you are dealing with this type of financial struggle, contact our foreclosure defense attorneys today by calling (319) 294-5853 to learn about the services we offer.