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Foreclosure rates are down, but risk is still real for some

On Behalf of | Apr 26, 2017 | Foreclosure

From a news standpoint, sources tend to group all states together in economic reports. Reports might say, “The U.S. economy is stronger than it has been in a decade.” Or, as one recent report says, “The residential foreclosure rate has been below pre-recession levels since late 2016 and continues to fall…”

While that is great news, it doesn’t take away from the reality that individual states and individual consumers face every day. If you, for example, are a Louisiana resident struggling to prevent foreclosure, not only does the above statement not apply to your situation, but it could also make you feel even more alone in your predicament.

You are not alone.

Others out there continue to face foreclosure threats. One state has seen an increase in foreclosures. Last month, there were still more than 36,000 home foreclosures in the U.S. That number is lower than in the past but still represents tens of thousands of people — some families — who lost their homes.

The threat of foreclosure does not have to become reality for everyone. Many consumers become paralyzed with fear. Maybe they feel ashamed when they shouldn’t instead of reaching out for the legal help that could possibly prevent foreclosure. Not doing anything in response to a foreclosure threat won’t save your home.

As we said earlier, you are not alone in your foreclosure struggle. You don’t have to face the battle alone when you work with an experienced foreclosure defense lawyer. Filing for Chapter 7 bankruptcy might help you and give you another chance at keeping your home. Talk to a trusted attorney about other possible options before giving into what can be the preventable tragedy of foreclosure.