Even though the numbers are shrinking, Florida can’t seem to shake its spot at the top of the nation for foreclosures. The state accounts for approximately 15 percent of all foreclosures nationwide. Mortgage lenders closed on 71,644 foreclosures in Florida during the 12-month period that ended in February, according to CoreLogic. That total was down by more than 41,000 foreclosures, or 37 percent, from 2015.
Florida’s foreclosure inventory (i.e. – mortgaged homes in some stage of the foreclosure process) was 2.2 percent in February, the fourth-highest in the nation. While that number is down from 3.4 percent over the year, it remains double the U.S. rate of 1.1 percent.
Nationwide, completed foreclosures have dropped by 10 percent and the foreclosure inventory has fallen by 24 percent. Statewide, 5.1 percent of all mortgages are considered seriously delinquent — at least 90 days past due — the third-highest level in the nation.
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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 website at www.miamibankruptcy.com.
