Friday, May 16, 2014

Florida Is Still #1

RealtyTrac released its U.S. Foreclosure Market Report for April 2014 today, and it found that Florida continues to lead the nation in foreclosures.
While the state's foreclosure activity – a count of all homes in some phase of the foreclosure process – declined 9 percent year-to-year in April, the state still led the nation with a foreclosure rate nearly three times higher than the national average.
Nationwide, foreclosure filings – default notices, scheduled auctions and bank repossessions – were reported on 115,830 properties in April, a 1 percent decrease from the previous month and 20 percent decline year-to-year. Overall, one in every 1,137 housing units had a foreclosure filing during the month.
Despite the drop, however, banks repossessed more homes in April – a 4 percent increase month-to-month. Still, repossessions dropped 14 percent year-to-year.
Don't let this happen to you like it did my neighbor in Bellalago. I offered my help but they said their attorney was doing it. Paying their attorney over $4000 just to get foreclosed on is just dumb thinking.  I could have assisted them with a short sale, got the deficiency waived and they could have walked away with some dignity. Now they have a judgment following them around for the next 20 years for over $100,000. 

Looking at the local rag (newspaper) the other day we can all see that the foreclosures here have picked up, a lot. What was once 1 page just 8 months ago has now grown to a whopping 13 full pages of foreclosure notices. 
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Usually our clients pay noting out of pocket. And my attorney and i have helped hundreds of distressed property owners all through-out Florida.