Despite foreclosures decreasing nationwide, Florida foreclosure rates remain on the rise. In fact, Florida has some of the highest rates of foreclosure starts and filings in the nation. Data released by ATTOM, found that Florida had the highest foreclosure rates last year, tied with New Jersey.
Foreclosure rates increasing can indicate important shifts in the housing market. For example, an increase in foreclosure rates can potentially reduce property tax revenues, destabilize the housing market, and lower neighborhood values through a rise in vacant properties.
The most recent data found that Florida had the third-highest number of foreclosure filings (2,652) in December 2024, behind California (3,772) and Texas (2,868). Florida counties with the highest number of filings included Miami-Dade, Broward, Palm Beach, Hillsborough and Orange.
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Choosing the right attorney can make the difference between keeping your home or losing it in foreclosure. 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.
REMEMBER: In Florida, the homeowner has rights when it comes to foreclosure! But do not delay.
Related Resource:
Kingcade & Garcia, P.A.- Foreclosure Defense (youtube.com)