A RealtyTrac U.S. Foreclosure Market Report shows the third quarter foreclosure activity is up 3 percent from the second quarter and up an astounding 71 percent from the same time last year.
However, there is good news: September foreclosures decreased 12 percent from the previous month.
Most financial analysts attribute the decline to newly passed state legislation aimed at keeping homeowners in their home. Also, many homeowners are using the unique home protections offered by bankruptcy, which may save a home from foreclosure.
We all hope to continue to see more of a decline.
Tags: chapter 13 bankruptcy, foreclosure, September foreclosures, U.S. Foreclosure
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