In Memphis, foreclosure rates seem to be increasing in the local metro area, but it’s still lower than the national average foreclosure rates. Local real estate and economy experts feel that the foreclosure rate is closely linked to the lack of job creation.

Basically, until the job market sees jobs created, the foreclosures will not only continue, but possibly increase. The local rate is up to 2.6 percent, and the national average is 3.43. The mortgage delinquency rate, however, showed a decrease–9.16% to 8.73%.

The Memphis movers have faith that the economy can slowly begin to restore itself, and therefore allow for more families to keep their homes. In the meantime, we want to encourage you to exhaust all possible outlets for staying in your home–banks often have counseling programs and with a little research on the internet you may find programs offering financial aid.