North Carolina Foreclosure Watch: Foreclosures On the Rise Again, Legal Help the Best Bet

January 16, 2012

North Carolina Foreclosure Watch

The Charlotte Observer recently reported that foreclosures nationwide rose about 7 percent in October compared to September– the Carolinas experienced an increase as well.

Our North Carolina foreclosure defense lawyers work with homeowners every day who are trying to save what they have worked hard to obtain. Rather than give in and let the bank take your home away, you should consult with an experienced forelcosure defense lawyer in NC that works to help consumers.

Foreclosure in Asheville NCForeclosure in Asheville can be a traumatic and life-altering experience. It can lead, obviously, to the loss of a house, but also a hit in credit and emotional turmoil from having to deal with the banks and their tactics. Allow an experienced foreclosure defense law firm in North Carolina to fight the foreclosure and aid you in getting a loan modification or perhaps securing a short sale, can put you back in the driver’s seat.

According to the news article, real estate analysts and experts believe that more foreclosures are in the pipeline as banks are again filing, just a year after they were forced to stop.  Banks halted filing foreclosures after they were busted for “robo-signing” documents, fabricating documents and using other unethical practices to strip people of their homes.

In North Carolina, the increase in filings was more noticeable. Between September and October of 2011, filings increased 35 percent. In South Carolina, the jump was 36 percent and a 19 percent hike from the same time last year.

This doesn’t necessarily mean that North Carolina and South Carolina homeowners are getting an imbalanced wave of foreclosure activity compared to the rest of the country. With banks reworking their foreclosure processes, the Carolinas may just be taking a hit recently. What we can take from this is that banks are back on the offensive and looking to pad corporate profits at the expense of struggling homeowners.

Nationwide, according to real estate tracking company RealtyTrac, one in every 563 housing units received a foreclosure notice in October. These notices can include default notices, auctions scheduled and bank repossessions and were issued on more than 230,000 houses.

Despite the big increase, North Carolina checked in at #34 of the 50 states in lowest number of foreclosures. Statewide, there were 2,939 foreclosure notices. South Carolina ranked 13 and had 3,600 foreclosure filings in October.

North Carolina’s Guilford County had the most foreclosure activity in October, while South Carolina’s Dorchester County ranked No. 1 statewide.

Foreclosure can be stopped. There are defenses to foreclosure that should be investigated before a home is taken away. This is a complex area that homeowners shouldn’t attempt to handle on their own.  So called “foreclosure defense experts” are popping up all over the country.  Don’t be scammed by an out-of-state company or law firm that cannot represent you in North Carolina.  Contact Soboleski Law to speak to a forelcosure defense lawyer who is licensed in NC and experienced with foreclosure defense.

And if banks attempt to foreclose, it may be possible to seek a loan modification or even enlist in government-backed programs that have been created in recent years in order to keep a person in their home. Despite some of the rhetoric that has been put out there by big business, banks taking over houses isn’t good for the economy. It’s in everyone’s best interests for the homeowner to keep their house. Each case is unique and an experienced attorney can help you determine the best course of action.

Consult The North Carolina foreclosure defense attorneys at Soboleski Law, P.C. for more information.  We can also be reached at 828-285-8888.

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