Foreclosures Continue to Increase Throughout the Country

Things are not looking good for the American financial landscape as foreclosures increased across the country, adding to the already high levels of unemployment.

According to a monthly analysis conducted by the Associated Press, bankruptcy levels went unchanged since November. However bankruptcy increased in 33 states, those being hit hardest were New Jersey, Utah, Nevada and Arizona.

Despite these grim figures financial analysts are holding out hope that later this year the economy will start to turn around. Part of their optimism lies in the tax-cut package that will lower worker's Social Security taxes, thus putting more money into their pockets. The AP Economic Stress Index showed that the country's score in December was 10.4, on a scale of 1 to 100, where anything over 11 is considered highly stressed. This was up from 10.3 in November when 3,141 counties across the states were deemed to be in a stressed financial state.

If you'd like to fight foreclosure on your home, contact our law office to get advice from a Chicago bankruptcy attorney.