On behalf of Kaplin Stewart Meloff Reiter & Stein, P.C. posted in Real Estate Law on Mar 29, 2012.
According to the Philadelphia Inquirer, foreclosure filings in the Philadelphia metropolitan area rose nearly 50 percent from last February. The numbers indicated that one in 828 homes had foreclosure filings, a 47.2 increase from last February. Mortgage defaults reportedly increased 35 percent over the same time period. The numbers are not surprising, as half of the largest metro areas in the United States reported increases in foreclosure activity over the last year.