Foreclosures up 5% in July, 2014

foreclosure defense attorney Denver Colorado

A total of 49,624 U.S. properties started the foreclosure process for the first time in July, a 5% increase from June. There was a two percent increase in foreclosure filings in the U.S. last month (July) with 109,434 properties in foreclosure than from the previous month (June). There were a total of 51,595 properties set for foreclosure auction, which is a 10% increase from June. It’s predicted August may see an even higher increase in the foreclosure auctions.

Although the foreclosure rate was down from this time last year, there is still concern over these latest increases. The economy has not rebounded as predicted and analysts say if the rate continues to increase the next 2-3 months, there will be cause for alarm that will have a ripple effect in the housing market.

Including default notices, scheduled auctions and bank repossessions, in the U.S., one in every 1,203 properties had some type of foreclosure activity in July 2014.Florida had the highest state foreclosure rate in the nation for the 10th month in a row. One in every 469 properties had foreclosure activity making that state more than two-and-a-half times higher than the nation’s average. Presently, in Florida there are 248,640 homes that are in foreclosure. Other high-ranking states were: California, Nevada, Arizona, Maryland, New Jersey, New York and Illinois.

There were a total of 14 states that had a higher foreclosure start rate last month (notices of intent to file foreclosure) than the previous month. Nevada topped the list has having the highest increase – a whopping 129% in foreclosure starts (lenders starting a foreclosure process).

Foreclosure activity increased from a year ago, in five of the nation’s cities. There was a 66% increase in foreclosure activity in Houston, Texas and 24% in Washington, D.C. Several California cities had huge increases in bank repossessions such as; a 58% increase in Los Angeles, 40% in San Diego and 27% in Riverside-San Bernardino.

Columbia, South Carolina and Akron, Ohio were cities with high foreclosure activity. Columbia had foreclosure activity in one in every 484 properties and Akron had one in 525 properties.

There were 25,937 U.S. properties repossessed in July. Four states had a considerably increase from the same time as last year. Those states were: Maryland (up 77%), California (up 22%), Oregon (up 13%) and New jersey (up 12%).

The lowest foreclosure activity in the nation was Montana, having one in every 25,337 properties. In Colorado, there are 10,294 properties in foreclosure at present time and a total of 29,684 homes for sale. Further, there were more home sale listings but fewer sales leading to weaker home price gains this summer.

Foreclosure can be a serious issue, and it is best to get foreclosure help as soon as possible. Beware of loan mod “companies’- they are almost always a scam. Contact a licensed, skilled foreclosure defense attorney if you need foreclosure help. Keith Gantenbein is the premier foreclosure defense attorney, located in Denver and serving all of Colorado. Colorado foreclosure defense attorney Keith Gantenbein has been featured on both national and local news multiple times, known for his tireless and effective work for homeowners. He recently worked with Colorado Rep. Beth McCann and Senator Jesse Ulibarri in drafting and passing 2 Colorado House Bills to protect homeowners: the first in the State of Colorado. You can read more about Denver foreclosure defense attorney Keith Gantenbein HERE.

Keith Gantenbein,  of The Gantenbein Law Firm, Colorado foreclosure defense practice includes foreclosure prevention, judicial foreclosure, HOA foreclosures, evictions, loan  modifications, cash for keys, foreclosure settlement, short sale assistance, Rule 120 Foreclosure Hearings, foreclosure assistance, foreclosure help in Denver, post-foreclosure litigation, foreclosure set-aside,  Colorado foreclosure help, and all other foreclosure defense legal assistance. His real estate practice includes real estate closings, title issues, quiet title, real estate contracts, lien issues, bankruptcies, mortgage negotiations, lender liability, real estate litigation, evictions, contracts and landlord/tenant. If you think you will be facing foreclosure, or are in the foreclosure process, or have had a wrongful foreclosure, contact Colorado foreclosure defense attorney Keith Gantenbein at (303) 618-2122 for a one-hour consultation, where he will discuss your situation and go over all your options with you.

Keith Gantenbein also practices homeowner defense against HOAS– including HOA foreclosures, HOA liens, HOA lawsuits and defense against wrongful covenant enforcement.

Gantenbein Law Firm practice includes Colorado Foreclosure Defense, Colorado Real Estate Law, Colorado and Federal Tax Law, Colorado Business Law, Credit Dispute and Credit Repair, and Colorado Wills & Trusts. For more information, visit our website: www.gantenbeinlaw.com

Gantenbein Law Firm also specializes in Federal and Colorado Tax Law. If you are facing an IRS tax audit or IRS tax appeal, need tax debt relief, have received a Notice of Tax Deficiency or Notice of Wag Garnishment, facing tax litigation, in need of tax planning or filing tax returns, or need help with an IRS installment plan or IRS offer in compromise, contact our Denver tax attorney immediately at 303-618-2122. Or, visit our Denver tax attorney website

 

 

About theglawfirm1

Gantenbein Law Firm is a Denver, Colorado Tax Law Firm, servicing all of Colorado. Gantenbein Law Firm also specializes in Colorado Real Estate Law, Colorado Foreclosure Defense, Wills & Trusts, and Business Law.
This entry was posted in Uncategorized and tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s