An all-time low since December 2006 was observed in foreclosure activity nationwide according to data recently released by RealtyTrac, as reported by Forbes on March 13.

According to the information provided by the company, at least 112,498 foreclosures in different stages nationwide were recorded last month, while the number of foreclosures that started nationwide in February were only 51,842, which is much lower compared to the data recorded in January 2014.

However, as majority of the states continue to recover from the foreclosure crisis, at least 14 states observed an increase in homes that entered foreclosure procedures last month.

Though the foreclosure rate nationwide continues to improve, our attorneys at Hong Law, PLC, know that many homeowners are still being threatened by foreclosure. If you are dealing with such situation, call (319) 294-5853 and find out what we may be able to do for you to help you keep your home.

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.