Memphis area realtors report increased sales in the last couple of months.
According to their records, January and February of 2012 brought almost a 50% increase in amount of homes sold, along with an increase in the costs of those houses.
More Memphis homes selling at a higher price makes sense next to another local real estate statistic: in December 2011, Memphis-area foreclosures beat the national average and decreased from the same time in 2010.
So clearly, many people are buying homes or keeping the ones they have.
At the same time, the rate of mortgage borrowers who have gone 90 days or more without making a payment increased at the end of 2011 to 6.24%.
And 9.26 percent of borrowers ended 2011 delinquent on their loans.
It’s not uncommon these days to hear about how well the economy is doing, or how recovery efforts have helped homeowners. In Memphis, as elsewhere, the truth of those claims probably depends on the individual.
Perhaps you don’t see improvements in the economy just yet. Perhaps you’re one of the almost 1 in 10 homeowners behind on payments, wondering how you’ll possibly get out from under the debt.
If good news about foreclosure rates doesn’t make you feel much better, consider talking to an attorney about your financial situation.
Our foreclosure bankruptcy attorneys can help you figure out your options. Most importantly, we can help you save your home from foreclosure if you’re unable to make your payments.
Contact us today to talk – the conversation is free.