North Carolina is experiencing a large increase in foreclosures statewide. The numbers of investors looking for short sales is going up as much as the numbers of stressed homeowners looking for foreclosure defense.
Foreclosures don’t only affect the homeowner facing the looming process, but the homeowner’s neighbors as well. When homes sell for under market value, appraisers use the transaction as a comparable home when determining the value of area properties, bringing down the property market value of a neighborhood. This means almost every area of NC is at risk for experiencing decreases in value.
- A state average of 1 in every 1,344 homes received a foreclosure filing in May 2012
- The NC county with the highest new foreclosure numbers is Mecklenburg
- Wake County had 299 new foreclosure filings in May 2012
- Some NC counties have foreclosures affecting as many as 1 in every 500 homes
How can you stop the foreclosure process? You can still save your home. Hiring a foreclosure defense lawyer will make a difference in stopping foreclosure. Not every foreclosure case requires a lawyer. NC foreclosure defense attorneys at Brent Adams & Associates offer free consultations where we explain the foreclosure process and help you determine if you need professional legal assistance to proceed. If you’re facing foreclosure, the lawyers at Brent Adams & Associates will be happy to consult with you to decide how to respond to this foreclosure action. There very well could be steps you could take for this foreclosure action to keep you in your home for a longer period of time. It may also be possible to renegotiate or modify your loan so that you could stay in your house.
Don’t be afraid of the bank; in many cases homeowners are in ideal situations where they have time left to hire a foreclosure defense attorney and win their home back from the bank.