David G. Weil Bankruptcy Law Blog on Lawyers.com

Home Foreclosures Trending Downward in 2011

Tuesday, January 31, 2012 by David G. Weil

The end of the calendar year is often a time for those who study the
economy to take stock of what’s happening in general, and the end of
2011 is a time when people are attempting to track the economy as it
continues to suffer. Fortunately, there do appear to be some positive
signs emerging, including a lowering unemployment rate and a drop in the
number of consumer bankruptcy filings that have been initiated.

In
addition, it appears that the number of home foreclosures is trending
significantly downward in 2011 as compared to 2010. Clearly, the number
of home foreclosures that have occurred in recent years has been one of
the many reasons that the economy has suffered. However, it appears
that at this point in 2011, 2.27 million home foreclosures have taken
effect in the United States. While that can appear to be an enormous
number, it is much smaller than the 3.31 million that occurred in 2010.
That represents more than a 30 percent drop.

While this can be seen as good news as well, it should not simply be
accepted as a sign that the economic troubles that are plaguing the
country are ending. Experts point to many reasons as to why this number
may be falling, including the fact that there have been efforts to slow
the momentum of foreclosure filings in the wake of allegations and in
some cases proof of fraud and negligence by note holders.

San Diego Bankruptcy Lawyers

While we will all welcome the official end to a struggling economy,
it should be noted that there are still many people in San Diego County
who continue to suffer through daily stress and financial turmoil.
Those who find themselves in this position need to take that
all-important first step towards having a professional review their
financial pictures to plot a course to financial recovery.

If you are tired of dreading that walk to the mailbox and sick of feeling fear every time the phone rings, seek the help of San Diego bankruptcy lawyers who have helped thousands of people earn a fresh financial start. Contact the Golden State Law Group today to schedule a free initial consultation.

Posted at 14:19 PM

Topic: Bankruptcy