Foreclosures Picking Up Speed

After the pause in foreclosures filings late last year helped some stay in their homes, it seems as though the grace period is over. Recent studies show that even more homes are being placed into foreclosure, but now even less of them are actually being repossessed or sold.

According to a company that monitors foreclosures around the country, there was a 14 percent increase during the second quarter for homes that received their first default notice. This is perhaps a reaction to the lag last year in which many lending institutions were forced to put a stop to foreclosures thanks to the "robo-signing" debacle. Now that these banks have been given the green light to continue, these institutions are being more aggressive about defaulted loans.

When compared to last year, lenders took back 27 percent less properties during the second quarter. In total, banks could repossess as many as 800,000 properties this year thanks to foreclosure proceedings.

While you may not believe it, there are ways in which you can put a stop to foreclosure. To learn what means you have at your disposal, contact the Malaise Law Firm to enlist the help of one of our San Antonio bankruptcy lawyers today.