A three-city area in Texas is thrilled by the recent issue of one foreclosure report.

Based on local data, foreclosure filings for this area have decreased. When compared to filings for the same period last year, the report showed a 25 percent decrease. Another report released by a statistics company showed that foreclosure filings are down 11 percent from the month before.

In total, 3,044 properties received notice of foreclosure in October. This amounts to 1 out of every 745 properties. While this figure is high, at this time last year 4,094 properties received their notices of foreclosure. This includes bank repossessions, default notices and scheduled auctions. Texas is currently ranked 26^th nationally for foreclosure rates: Nevada, California, Arizona, Florida and Michigan hold the first five spots for worst foreclosure rates.

Across the country, foreclosure filings have decreased 31 percent when compared to the same period last year. However, they do show a 7 percent increase from last month.

If you would like to prevent foreclosure, contact the Malaise Law Firm to learn what alternatives are at your disposal by speaking with one of our Houston bankruptcy lawyers.