Castle Law Office Blog | Missouri & Illinois Bankruptcy Legal Blog

How Will the Foreclosure Rates in 2010 Compare to 2009?

Despite efforts by the current administration, experts are predicting that foreclosure rates will remain on the rise for 2010. It seems that we may not have hit bottom yet, with an expected peak in late 2010. According to the Mortgage Bankers Association, the amount of people that are one or more mortgage payments behind or have already entered into foreclosure rose 13.2% in 2009. They predict joblessness to peak in mid-2010 and a foreclosure peak to follow.
St. Louis Missouri and Illinois’ metro-east are right there with the rest of the country with roughly 1,700 foreclosures a month in St. Louis city alone. So, where can these countless victims get the protection from foreclosure they need?

Luckily, there are St. Louis Missouri and Fairview Heights Illinois bankruptcy attorneys who are prepared to help. Since a chapter 13 bankruptcy in Missouri and Illinois carries the power of the federal government, it can stop homes from being sold at auction and prevent creditors from taking any further action.

How can you choose the best St. Louis MO or Illlinois bankruptcy lawyer? While many of these attorneys offer free consultations, it is best to look for an attorney who offers bankruptcy faq, articles, blogs, and free publications to educate you before you even step foot in an office. You can request a free copy of my Missouri and Illinois bankruptcy book, “Get Out of Debt: Secrets Your Creditors Don’t Want You to Know,” by clicking here.