The number of first-lien mortgage delinquencies increased 13% last month, the largest increase since November 2008. Month-over-month there were 241,000 additional borrowers past due on mortgage payments, according to data from Black Knight Financial. The delinquencies were mostly in their early-stage.
Active foreclosure inventory was at a 10-year low in April and the month also saw the fewest new foreclosure starts since January 2005, only 52,800, down 12.4% from March and 10% year-over-year. Most improved by percentage were New Jersey (14%), Florida (13%), New York (13%), Nevada (11.7%), and DC (9.7%).
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Choosing the right attorney can make the difference between whether or not you can keep your home. A well-qualified Miami foreclosure defense attorney will not only help you keep your home, but they will be able to negotiate a loan that has payments you can afford. Miami foreclosure defense attorney Timothy Kingcade has helped many facing foreclosure alleviate their stress by letting them stay in their homes for at least another year, allowing them to re-organize their lives. If you have any questions on the topic of foreclosure please feel free to contact me at (305) 285-9100. You can also find useful consumer information on the Kingcade & Garcia website at www.miamibankruptcy.com.