Overall throughout the U.S., the number of foreclosure filings fell during the first half of the year. The total number was down over 296,000 from the first six months of 2018. That's an 18% drop in a year and a whopping 82% decrease from 2010. Those numbers are from ATTOM Data Solutions, which recently published its Midyear 2019 U.S. Foreclosure Market Report.
However, the news was not good in every state -- including Louisiana. Foreclosure filings rose by 19% over last year. All of the states that reported the highest increases are in the southeastern region of the country. Mississippi saw a 56% increase, followed by Florida at 28% and Georgia at 22%. Four metro areas within Florida were among the relatively few (16%) where foreclosure starts increased. They also made up four of the five metro areas with the highest increases from 2018.
An official with ATTOM explains why these foreclosure numbers are important to the economic outlook for different parts of the country. He says, "Foreclosure starts is a good indication of markets to watch."
Of course, the only foreclosure that matters is your own. There are ways that foreclosure can be prevented. You might be able to get a loan modification. A short sale may be an option.
If those aren't possibilities, you may be able to get back on track with your mortgage by filing for bankruptcy. If you believe that foreclosure may be in your future and your goal is to save your home, it's best to seek help as soon as possible. An attorney experienced in debt relief can provide valuable guidance.
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