As the backlash of the robo-scandal comes to an end, foreclosures are slowly on the rise once again. According to RealtyTrac, filings fell just 8% in February, the smallest decrease since October 2010. Now that most banks and financial institutions have been given the green light to resume foreclosure filings, the backlog of foreclosures is being tackled across the country. Although several states continue to see declines in foreclosures, there are still hundreds of thousands of properties that are receiving first notices. In California alone there were 206,900 properties that received foreclosure notices in February.
In 26 states foreclosures are steadily on the rise. In many of these states the courts have stepped in to conduct foreclosure proceedings. RealtyTrac reported that there was a 24% increase in filings from the previous year. Of the largest metropolitan areas in the country, half saw increases in filings. Reports show that Miami and Tampa led the group with the highest amount of foreclosure filings. Were you served with a notice of foreclosure but want to keep your home? If so, contact the Malaise Law Firm now to discuss alternatives to foreclosure with a knowledgeable San Antonio bankruptcy attorney from our office.