Foreclosure cases dropped sharply in South Florida last year, another sign the housing market is recovering. Broward County had 6,287 filings in 2014, a 42% decline from 2013 and Palm Beach County had 3,920 filings, down 55 percent from the previous year, according to RealtyTrac.
Some real estate experts predict a new wave of cases this year, but it will not be enough to derail the housing market recovery- and it may even be a good thing because it will put more homes on the market for avid buyers. Others argue that these foreclosed homes typically are not in good condition because of poor maintenance, and a fewer number of foreclosures and a steady increase in property values will reduce the number of “desperate sellers.” A decline in these desperate sellers could mean we see better quality homes hitting the market.
Although total filings fell 24 percent in Florida last year, the state still ranked No. 1 in foreclosures nationwide, with 2.3 percent of all Florida housing units receiving a notice in 2014.
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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.