Thursday, July 17, 2014

Good news for homeowners - Foreclosures are down to Pre-Mortgage Crisis levels

Foreclosure filings across the country decreased in June to it's lowest levels since 2006 when the housing market collapsed, Bloomberg News reported today. Homes reporting an official default, foreclosure sales auction or repossession totaled 107,194 last month, down 16% from last year, and the lowest since June 2006 reports RealtyTrac Inc. in a report issued today. That doesn't mean that there aren't thousands more who are a payment, two, or three payments behind or more, however. Chapter 13 can still help. It can cure arrears, it can also pay down unsecured second mortgages pennies on the dollar in many instances for those who are still upside down on their homes. Values are bouncing back, but still not as quickly as many hope . Contact us for a chapter 13 review to see if it would be right for you. Leeders & Associates 312-346-7400

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