According to a recent report by CoreLogic, more homes were lost to foreclosure in Florida than any other state in the last 12 months. Florida had the highest number of foreclosed homes in the nation in May, with 8.8 percent of mortgaged homes in some stage of the foreclosure process. That level marked a 2.9 percentage decline from the previous year.
Some believe the reason Florida’s foreclosure inventory is so high is the lengthy court process a foreclosure has to go through in the State of Florida.
CoreLogic also reported mortgage loans in Florida are showing some troubling signs. For May, the share of Florida mortgages that were seriously delinquent — behind by 90 days or more — was 13.3 percent, the highest rate of any state and more than double the national average of 5.6 percent.
After Florida, California ranked No. 2 with 76,000 homes lost to foreclosure in the year ending in May 2013.
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 website, www.miamibankruptcy.com.