There were fewer loans in the month of July than any month in more than 10 years, according to a new report from Black Knight Financial Services. There were 398,000 properties in foreclosure pre-sale in July, which is down 12,000 from June and down more than 150,000 from the same time period last year, a decline of 28%.
The month of July also marked the first time that the number of loans in foreclosure was below 400,000 since February 2007. While foreclosures are down, loans in delinquency increased slightly month-over-month in July, but 2017’s total is still below last year’s numbers.
The number of properties that are 90 or more days past due, but not in foreclosure was 555,000 in July, which is still 140,000 lower than last year.
Black Knight’s report shows that there were 2.38 million properties that are 30 or more days past due or in foreclosure in July, which is up 42,000 from June, but down 452,000 from the previous year.
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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.
