According to a recent report by CoreLogic, the foreclosure rate for the greater Miami area fell sharply in October from a year ago. However, Miami’s foreclosure rate continues to remain far above the national average. In the Miami, Miami Beach, Kendall area, 19 percent of outstanding mortgages were in some stage of foreclosure, compared with 15.06 percent a year earlier.
Florida’s foreclosure rate fell to 6.98 percent in October from 10.65 percent a year earlier. The national average was 2.15 percent, down from 3.06 percent in October 2012. For the Miami, Miami Beach, Kendall area, 15.69 percent of mortgage loans were delinquent by more than 90 days. That compares with 21.66 percent a year earlier.
Choosing the right attorney can make the difference between whether or not you can keep your home. A well-qualified Miami foreclosure defense attorney will not only help you keep your home, but they will be able to negotiate a loan that has payments you can afford. Miami foreclosure defense attorney Timothy Kingcade has helped many facing foreclosure alleviate their stress by letting them stay in their homes for at least another year, allowing them to re-organize their lives. If you have any questions on the topic of foreclosure please feel free to contact me at (305) 285-9100. You can also find useful consumer information on the Kingcade & Garcia website at www.miamibankruptcy.com.