In a report out of ABCNews.com, experts believe the worst is over in the foreclosure crisis that has been wreaking havoc on distressed homeowners over the past six years.? Foreclosure numbers are trending downward as the national foreclosure rate fell 28 percent in January compared to last year.? Lenders also took control of fewer houses in the past year.? Many states are facing this issue head on with both legislation and programs put in place to curb foreclosure starts and give resources to struggling homeowners.
Get this: California, a state that has taken quite a beating throughout the foreclosure crisis, had a 75 percent decrease in foreclosures from a year ago. If that isn?t a sign that things are finally turning around then I?m not sure what is.
However, we haven?t fully turned the corner just yet.? Florida still leads the nation in foreclosures with one in every 300 homes slated for foreclosure.? That?s more than twice the national average.? See the full report here.
*Photo courtesy of howstuffworks.
Source: http://investorsedgeuniversity.com/blog/2013/02/16/foreclosure-crisis-may-be-coming-to-an-end/
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