Recent news has indicated that, while foreclosure delays will aid 1 million homeowners in keeping their homes, it will also hinder the housing market as it tries to recover.

Foreclosures will be filed on around 2 million homes this year, which is 1 million less than the number of homes that should be foreclosed on, according to RealtyTrac. This is because 1 million home foreclosures are delayed due to a variety of reasons, including the constant changing of foreclosure rules. Because of these delays, fewer homes are for sale and, consequently, homes that are for sale have higher prices.

Forclosures became delayed last year after it was found that thousands of cases were not handled properly. It has been predicted that foreclosures will start increasing again towards the end of this year or the beginning of next year.

If you or someone you love is facing foreclosure, please contact the Maryland foreclosure defense lawyers of Chaifetz & Coyle, P.C., at 443-546-4608.