According to the
Orlando Business Journal, Florida leads the entire country in the number of completed foreclosure
sales for the last 12 months ending in January. Florida completed over
74,000 foreclosures, beating the next highest state by nearly 25,000 sales.
The Journal reported that Florida, Michigan, Texas, California, and Ohio
accounted for almost half of all completed foreclosure sales in the nation.
The Miami-Miami Beach-Kendall area led all other metro areas nationwide
with 6,919 foreclosure sales completed during the same period ending in January.
However, the number of current foreclosures and completed foreclosure sales
are on a steady decline. The number of foreclosures in the state’s
inventory dropped by 21.7 percent, and the number of completed foreclosures
declined by 16.2 percent in comparison to the numbers from January of
2015. These numbers are down from an all-time peak of 117,743 foreclosure
sales completed for the 12 months ending in September of 2010.
The report indicates that since homeownership peaked in 2004, there have
been an estimated 8.2 million homes lost to foreclosure nationwide. 6.1
million of these completed foreclosures occurred after the financial crisis
began in September of 2008.
While foreclosures and completed foreclosure sales are declining, foreclosure
is a serious problem for homeowners in Florida. Florida still has a higher
rate of foreclosure than other states in the country, and
Realtytrac estimates that 1 in 813 Floridian homes are currently somewhere in the foreclosure process.
Dealing with a foreclosure can be a scary and intimidating process. However,
homeowners have multiple options when attempting to save their homes.
An experienced attorney can help you fight foreclosure in court, and can
also help you get a loan modification, set up a short sale, or file a
bankruptcy in order to keep the bank from taking your house.
To find out more about your options, schedule a free appointment with the
Loan Lawyers today. Our attorneys have helped people throughout South
Florida save their homes, and can advise you about your best course of
action. Contact our office today by calling (844) FIGHT-13 (344-4813)
to learn more about how we can help you.