Tag: ATTOM

Foreclosure Defense, Foreclosures

These 2 Southern States Lead the Nation with the Highest Number of Foreclosures

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Foreclosure rates have been on the rise, signaling homeowners are struggling with the cost of homeownership.  There was a total of 36,033 U.S. properties with foreclosure filings, up 0.4% from the prior month and 13.9% from a year ago, according to the U.S. Foreclosure Market Report from ATTOM.

The report revealed that Florida, South Carolina, and Illinois had the worst foreclosure rates in the nation.

High foreclosure rates can be attributed to a range of factors, including economic pressure, local housing market dynamics, and state-specific foreclosure procedures. Of the three states, only Florida, with a median home list price of $440,000, is above the national median at $431,250.

The report revealed that two-thirds of the 50 counties around the U.S. considered most exposed to potential fallbacks were in Florida, California, Illinois, and the New York region.

South Carolina saw 1 in every 2,311 housing units with a foreclosure filing; Illinois had 1 in every 2,405 housing units; and Florida had 1 in every 2,526 housing units.

Among those major metropolitan statistical areas with a population of at least 200,000, those with the greatest number of foreclosure starts in April 2025 included Houston (1,202), Chicago (1,139), New York City (1,099), Miami (739), and Atlanta (665).

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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.

Foreclosure Defense, Foreclosures

This Florida Metro Has Been Named the Foreclosure Capital of the US

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According to real estate data from ATTOM, Florida’s Lakeland region has the nation’s highest number of foreclosures. One out of every 172 housing units had foreclosure filings, according to the real estate data firm.

There is a combination of factors that attribute to this rating. One being a population influx. Another factor is the price of home insurance, and rising insurance premiums. Floridian’s pay an average annual premium of $5,292 for a home worth $3000,000, according to Bankrate. That’s nearly two-and-a-half times the national average of $2,267.  Other factors, include increased property taxes, regulatory changes that impact older condominiums, elevated mortgage rates, inflation, and job losses.

Foreclosures can oftentimes be a precursor to bankruptcy, and both have risen drastically over the last 12 months.   The key is to respond quickly to avoid losing your home through foreclosure. It may seem counter-intuitive, but when someone is facing foreclosure and is in the middle of a major financial crisis, bankruptcy can be a viable option to help save that person’s home. Ultimately, it depends on your specific financial situation and the type of bankruptcy you file – but bankruptcy can be used as a tool to help keep your home.

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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.

Foreclosures, Housing Market Trends

Florida Foreclosures Spike in the Aftermath of Last Year’s Hurricane Season

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Florida led the nation in foreclosures in 2024, and all signs point to a continuation in the trend. A report by property data firm ATTOM shows that Lakeland ranked No. 1 nationwide for the most filings in 2024, with one in every 172 homes foreclosed on.

After a six-month period of decline, foreclosure filings abruptly increased in October, revealing the impact back-to-back hurricanes had on the market.

Hillsborough, Broward, Miami-Dade and Orange counties had the most foreclosures in Florida. Among U.S. metro areas with populations greater than 1 million, Orlando, Jacksonville and Miami had the first, third and fourth highest rates in the nation.

Foreclosures can oftentimes be a precursor to bankruptcy, and both have risen dramatically over the last 12 months.

Several major Florida metros ranked in the top 10 U.S. cities whose residents have the highest levels of financial distress. Tampa ranked No. 8, while Jacksonville, Orlando and Miami ranked third, sixth and ninth.

Click here to read more.

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.

Foreclosures

Florida Foreclosures on the Rise

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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.

Click here to read more.

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)

Foreclosure Defense, Foreclosures, Kingcade Garcia McMaken

Florida Moves Up to No. 2 Status as State with the Highest Foreclosure Rate

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Attom released its November 2024 U.S. Foreclosure Market Report this week. The report includes the total number of properties nationwide that have at least one foreclosure filing.  The report showed that 29,390 properties had foreclosure filings in November. That represents a 3% decrease from October and a 9% decrease from November 2023.

While foreclosure filings are down month-over-month and year-over-year, the data reveals states, such as Florida, Nevada, and Connecticut, remain high.

Nevada maintains its status as the state with the highest foreclosure rate (one in every 2,941 homes). Florida moved up to No. 2 with one in every 3,047 homes in foreclosure, followed by Connecticut (one in 3,210), Maryland (one in 3,535) and Indiana (one in 3,567).

The city of Miami has one of the highest foreclosure rates (one in 2,551 homes), among metros with more than 1 million residents. Foreclosure starts – means lenders have started the process but have yet to repossess the home.

Click here to read more.

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)

Foreclosure Defense, Foreclosures

US Foreclosures Down 13 Percent in Q3 2024

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A total of 87,108 U.S. properties had foreclosure filings in the third quarter of 2024, representing a 2 percent decrease from the previous quarter and a 13 percent decline from the same period last year.  This is according to ATTOM’s newly released Q3 2024 U.S. Foreclosure Market Report.

States with over 1,000 foreclosure starts in Q3 2024 that saw the largest annual drops included North Carolina (down 44 percent), Georgia (down 29 percent), Maryland (down 22 percent), New Jersey (down 20 percent), and South Carolina (down 19 percent).

Among major metropolitan areas (population of 200,000 or more), those with the most foreclosure starts in Q3 2024 were Miami, FL (2,142), New York, NY (3,776), Chicago, IL (3,231), Los Angeles, CA (2,166), and Houston, TX (1,791).

The Highest Foreclosure Rates were seen in Florida, Illinois, and Nevada.

Nationwide, one in every 1,618 housing units had a foreclosure filing in Q3 2024. States with the highest foreclosure rates were Florida (one in every 971), Illinois (one in every 904 housing units), Nevada (one in every 922), Delaware (one in every 1,060), and South Carolina (one in every 1,069).

Among the 224 metropolitan statistical areas with populations of at least 200,000, the highest foreclosure rates in Q3 2024 were recorded in Lakeland, FL (one in every 610 housing units), Orlando, FL (one in every 859), Provo, UT (one in every 647), Macon, GA (one in every 649), Columbia, SC (one in every 663), and Atlantic City, NJ (one in every 766).

Click here to read more.

REMEMBER: In Florida, the homeowner has rights when it comes to foreclosure! But do not delay.

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.

Related Resource:
Kingcade & Garcia, P.A.- Foreclosure Defense (youtube.com)

Foreclosure Defense, Foreclosures

Home Foreclosures in Florida on the Rise

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Foreclosure numbers from the analytical firm, ATTOM reveal an increase in foreclosure filings in Florida. According to the leading provider of nationwide property data, the three biggest areas where foreclosures are on the rise are in Lakeland, Orlando and Miami.

This year’s numbers in South Florida are up nearly 50% compared to February 2022, according to the South Florida Business Journal.

When Can Foreclosure Start?

Foreclosure cannot start until the homeowner is more than 120 days past due on his or her payments. The purpose of this length of time is to give the homeowner time to submit a loss mitigation application before the foreclosure process begins.

If you are not able to make your monthly mortgage payments, you have options available to you that can keep you from losing your home.

REMEMBER: In Florida, the homeowner has rights when it comes to foreclosure! But do not delay.

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.

SOURCE: Home Foreclosures in Florida Rising – Florida Daily

Foreclosure Defense, Foreclosures

Florida Sees Highest Rate of Home Foreclosure Filings Nationwide

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Florida has one of the highest rates of home foreclosure filings in the nation, according to ATTOM Data, the leading provider of nationwide property data.

The real estate data analysis firm reported that one in every 2,632 housing units in Florida had a foreclosure filing in February. South Carolina registered foreclosure filings for one in every 2,248 homes, while Delaware had one in every 2,428.

Miami and Orlando had the highest rates of foreclosures for areas with populations of at least 1 million people: Orlando—with one in 1,938 housing units experiencing foreclosures—and Miami, with one in every 2,392.

Florida had the highest number of these foreclosure starts, with 2,732 properties affected, followed by California with 2,730 and Texas with 2,694.

When Can Foreclosure Start?

Foreclosure cannot start until the homeowner is more than 120 days past due on his or her payments. The purpose of this length of time is to give the homeowner time to submit a loss mitigation application before the foreclosure process begins.

If you are not able to make your monthly mortgage payments, you have options available to you that can keep you from losing your home.

REMEMBER: In Florida, the homeowner has rights when it comes to foreclosure! But do not delay.

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.

Sources:

Florida Homeowners Are Losing Their Houses (newsweek.com)

How to Avoid Foreclosure: Forbearance, Short Sale, and Other Options (businessinsider.com)

Foreclosure Defense, Foreclosures

U.S. Foreclosure Activity Increases in Q1 2024

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Real estate data by ATTOM, revealed its Q1 2024 U.S. Foreclosure Market Report, which showed a total of 95,349 U.S. properties with a foreclosure filing during the first quarter of 2024. These numbers were up 3 percent from the previous quarter.

The report also showed a total of 32,878 U.S. properties with foreclosure filings in March 2024, down less than 1 percent from the previous month and down 10 percent from a year ago.

Foreclosure starts to increase nationwide.

67,657 U.S. properties started the foreclosure process in Q1 2024, up 2 percent from the previous quarter and up 4 percent from a year ago.

States that had 100 or more foreclosure starts in Q1 2024 and saw the greatest quarterly increase included, New Hampshire (up 43 percent); Illinois (up 26 percent); Florida (up 22 percent); Rhode Island (up 21 percent); and Nevada (up 16 percent).

Major metros with a population of 200,000 or more that had the greatest number of foreclosure starts in Q1 2024 included, New York, New York (4,404 foreclosure starts); Houston, Texas (2,977 foreclosure starts); Chicago, Illinois (2,867 foreclosure starts); Los Angeles, CA (2,398 foreclosure starts); and Miami, FL (2,319 foreclosure starts).

Click here to read more.

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.

Foreclosure Defense, Foreclosures

Florida Second in the Nation for Evictions and Foreclosure Moves

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As the number of evictions and foreclosures have increased across the country, these types of legal actions have increased more in Florida. As a result, Florida now has the second highest rate in the country when it comes to evictions and foreclosures.

According to figures from ATTOM, American consumers are facing a significant increase in both evictions and foreclosures. They reported that a total of 324,237 foreclosures were in the court system in the U.S last year.

In 2022, a total of 204,000 American consumers reported that they were facing eviction or foreclosure in the U.S. During this year, the rate of evictions and foreclosures increased by 56 percent (56%).