Michigan’s Foreclosure Rate Shows Continued Improvement in Last 6 Months

The foreclosure rates throughout Michigan have showed great improvement in the last year and a half which includes the greatly beleaguered Detroit area. The number of reported foreclosed homes over the last six months is down 43 percent compared to the same time last year and the numbers are down 33 percent compared to the previous six months (July through December 2012). These statistics were determined based on the 26,349 foreclosure filings made January through June this year. Daren Blomquist, vice president with the real estate information and statistics firm RealtyTrack Inc. stated, "Michigan was one of the first states to be hit by the foreclosure problem and now it's one of the first states to get out."

While it is good news that Michigan's housing market is recovering, the numbers are still astounding considering that there were over 26,000 individuals or families who lost their home to foreclosure so far this year. That means that one out of every 172 houses in the state was foreclosed upon. There are also many homes remaining unsold on the market and many others in jeopardy (delinquent mortgage payments and the like). One Lansing woman was on the brink of losing her home of 40 years due to delinquent property taxes and other overwhelming debts. Thanks to help from the Step Forward Michigan program she was able to obtain funding help from the Michigan State Housing development Authority. Are you in jeopardy of losing your home to foreclosure? Consult with a bankruptcy lawyer to find out how you may be able to avoid losing your home to foreclosure.

Michigan Bankruptcy Attorney for Foreclosure Defense

If you are facing foreclosure and wish to keep your home or simply want to avoid foreclosure by pursuing another option for getting out from under a no-win mortgage then an attorney with us at the Hensel Law Office may be able to help. We are well versed in foreclosure defense strategies as well as bankruptcy law. We have used our knowledge and competence in this area to help our clients stop foreclosure actions being pursued by their mortgage lender. From loan modifications, deed in lieu and short sales to protecting a home through Chapter 13 bankruptcy protection, we have obtained successful results in even the most complex of cases. Please contact our firm today to schedule a time to meet with a dedicated lawyer on our team.