Ever since the recession a few years ago, foreclosures have been keeping steady across the country. Housing markets everywhere have taken a hit, however things appear to be back on the mend in some respects. With the latest figures to come out, there could be new hope for lots of families dealing with distressed homes.
As reported last week by CNN Money, foreclosure rates dropped to their lowest point in almost five years. Total figures from 2011 show that foreclosures were down as much as 33%, a welcome sign that more and more families are hanging on to their homes.
While these numbers likely have to do with a halt in foreclosures ever since the “robo-signing” debacle that plagued lenders in the past year, it’s still good news that lots of families and investors are happy to see. Also worth taking into account is all the aid given to families thanks to the Home Affordable Refinance Program (HARP) and the Home Affordable Modification Program (HAMP) programs that were put together by the government that have kept plenty of families in their homes.
What 2012 will hold in terms of foreclosures remains to be seen, but as for last year things certainly appeared to get better, and hopefully that trend will continue.
Tammy Mitchell Hines specializes in helping with distressed homes and making quick short sales, so if you need help call their offices today at 877-418-6343.
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