Currently the foreclosure starts is at its lowest, there has been a 2% increase between February and March. March onwards there has been a significant increase in 23 states. New York, Maryland and Washington are leading the pack with the most new foreclosure fillings.
First quarter of 2013 has seen a fixed national rate of first-lien mortgage foreclosure starts. 15 states across the country showed a decline in new motions from quarter-to-quarter and, compared to the first quarter of 2012, foreclosure filings were down 23%. More recent activity shows a sharper decrease over a short amount of time, as first quarter 2013 new filings diminished 12% from the previous quarter.
Even though currently the foreclosure starts is at its lowest, there has been a 2% increase between February and March. March onwards there has been a significant increase in 23 states. New York, Maryland and Washington are leading the pack with the most new foreclosure fillings.
What happens in a foreclosure proceedings?
A foreclosure proceeding occurs when a lender files a lawsuit seeking to take possession of your home. After the lender commences the action, the borrower is given a limited time to reply. If the borrower fails to reply, a default judgment can be entered and ownership of the home transferred to the lender by the court.
Contact John M. Crane1
If you have been served with a Summons and Complaint containing a foreclosure notice, you should act as quickly as possible to explore any foreclosure defenses you might have. You can contact foreclosure attorney, John M. Crane at 212-571-1898, 718-509-6542, 914-380-4209 or 914-481-3450. With the help of John Crane, you will receive the information, advice and solutions you need to avoid foreclosure, or if foreclosure is not avoidable, he can help you protect any and all rights you may have, including the right to sell your home if you have equity in it, a “short-sale” if it can be negotiated with your lender, or a deed in lieu of foreclosure whereby you can walk away from the home without any further obligations to your lender. For more details, visit www.johncranebankruptcy.com.
Disclaimer: The contents of this page are general in nature. Please use your discretion while following them. The author does not guarantee legal validity of the tips contained herein.
About the Author
1John M. Crane, Esq. has been licensed since 1997 and is a member of the National Association of Consumer Bankruptcy Attorneys. John M. Crane, P.C. is a full-service law office with a practice focused on Foreclosure Defense and Consumer Bankruptcy. The offices of John M. Crane, P.C. are located at PortChester, Queens, White Plains and New York. For further information, contact John M. Crane, Esq. directly at (914) 481-3450. You can visit the website http://www.johncranebankruptcy.com/.
you can view the original source of this article at http://www.xvarticles.com/foreclosure-rates-have-declined-year-over-year-but-are-on-the-rise-again/
1John M. Crane, Esq. has been licensed since 1997 and is a member of the National Association of Consumer Bankruptcy Attorneys. John M. Crane, P.C. is a full-service law office with a practice focused on Foreclosure Defense and Consumer Bankruptcy. The offices of John M. Crane, P.C. are located at PortChester, Queens, White Plains and New York. For further information, contact John M. Crane, Esq. directly at (914) 481-3450. You can visit the website http://www.johncranebankruptcy.com/.
you can view the original source of this article at http://www.xvarticles.com/foreclosure-rates-have-declined-year-over-year-but-are-on-the-rise-again/
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