Posts Tagged: ‘South Florida foreclosures’

Florida Ranks in the Top 10 for Highest Foreclosure Rates

February 6, 2018 Posted by kingcade

Even with economic improvement, Florida ranked among the top 10 states with the highest foreclosure rates in 2017, despite the number of foreclosures dropping by 45% compared to 2016. Last year in Florida there were 24,215 foreclosure proceedings filed, compared to 43,772 in 2016, according to ATTOM Data.

Here are the states with the highest foreclosure rates in 2017:

  1. New Jersey (1.61 percent of housing units with a foreclosure filing);
  2. Delaware (1.13 percent);
  3. Maryland (0.95 percent);
  4. Illinois (0.86 percent);
  5. Connecticut (0.78 percent);
  6. Florida (0.72 percent);
  7. South Carolina (0.70 percent);
  8. Ohio (0.70 percent);
  9. Nevada (0.67 percent);
  10. New Mexico (0.63 percent).

Florida ranked among the top states with the highest number of legacy foreclosures on loans originated between 2004 and 2008. Miami-Dade County ranked among the highest number of legacy foreclosures in the nation. The top counties were: Nassau County (Long Island), New York (6,782); Cook County (Chicago), Illinois (5,478); Kings County (Brooklyn), New York (4,677); Miami-Dade County, Florida (3,804); and Suffolk County (Long Island), New York (3,417). In the fourth quarter of 2017, Florida also ranked near the top of all states with the longest average time to foreclose, on average 1,493 days.

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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 McMaken website at www.miamibankruptcy.com.

 

Foreclosure Filings Drop Sharply in South Florida

January 22, 2018 Posted by kingcade

During the 2007-2009 recession, South Florida was at the top of the list for most foreclosures.  However, in 2017 South Florida ranked No. 21 for the highest foreclosure rate among the nation’s metro areas.  Foreclosure filings dropped 37.9 percent in South Florida during 2017, according to Attom Data Solutions.

There were 20,019 properties with foreclosure filings in South Florida during 2017, or one in every 124 houses. The rate was higher in Miami-Dade County at one in 110 houses, followed by Broward County at one in 127 houses, and Palm Beach County at one in 149 houses.

Nationally, foreclosures were down 27 percent in 2017 and were at the lowest level since 2005, according to Attom. The metro regions with the highest foreclosure rates in 2017 were Atlantic City, New Jersey; Trenton, New Jersey; Philadelphia; Fayetteville, North Carolina; and Rockford, Illinois.

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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 McMaken website at www.miamibankruptcy.com.

 

South Florida Foreclosures Down 33 Percent

July 26, 2017 Posted by kingcade

The increase in home prices and a stable job market have caused foreclosures to decline across South Florida.  The first half of this year, 12,463 homes were in some stage of foreclosure, down 33 percent from a year ago and 56 percent from the same period in 2015, according to ATTOM Data Solutions.

Miami-Dade, Broward and Palm Beach will close out the year with a fraction of the total that occurred during the 2009 peek of the housing crisis, when there were 172,854 properties in the process of foreclosure.  Statewide, foreclosures are down 34 percent from a year ago and 56 percent from 2015.

South Florida is on pace to finish 2017 with a foreclosure rate of about 1 percent.  Numbers have not been that low in Miami-Dade, Broward and Palm Beach since 2006.

Click here to read more on this story.

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.