Florida foreclosures Archives - FREE CONSULTATION

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

Posted on April 22, 2025by Admin

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.

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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.

Foreclosures

Florida Foreclosures on the Rise

Posted on February 25, 2025by Admin

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

Foreclosure Defense, Foreclosures, Kingcade Garcia McMaken

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

Posted on December 18, 2024by Admin

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.

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

Foreclosure Defense, Foreclosures

US Foreclosures Down 13 Percent in Q3 2024

Posted on October 16, 2024by Admin

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).

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

Foreclosure Defense, Foreclosures

Home Foreclosures in Florida on the Rise

Posted on August 15, 2024by Admin

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.

SOURCE: Home Foreclosures in Florida Rising – Florida Daily

Foreclosure Defense, Foreclosures

Florida Second in the Nation for Evictions and Foreclosure Moves

Posted on June 6, 2023by Admin

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%).

Foreclosure Defense, Foreclosures

Florida Foreclosure Filings Increase by 71 Percent Since 2021

Posted on November 17, 2022by Admin

Foreclosure rates in the State of Florida are on the rise by over 71 percent since 2021, according to new foreclosure data released by real estate company, ATTOM. As a result, Florida now ranks number two for the top five states with the highest level of foreclosure starts.

Rates have been steadily increasing throughout the year as pandemic relief programs have ended. ATTOM reports that 9,284 foreclosure filings were made in the past quarter with 6,671 of these being foreclosure starts. Fortunately, foreclosure starts are still behind where they were before the COVID-19 pandemic hit, even though numbers are starting to rise.

Foreclosures, Housing Market Trends

Florida’s Mortgage Delinquency Rates Increase, Slightly Higher than National Average

Posted on July 12, 2022by Admin

Mortgage delinquencies slightly increased from April to May 2022, but Florida’ mortgage delinquency rates have increased more than the national average. Nationwide, one in every 4,549 housing units had a foreclosure filing in May 2022, according to a recent report issued by Knight Data & Analytics. Florida led all 50 states with a high rate of one in every 2,788 housing units.

The national delinquency rate decreased in May 2022 to a low of 2.75 percent. However, Florida’s delinquency rate stayed at a consistent 2.0 percent. Lenders initiated foreclosure proceedings on 22,099 properties in May 2022. While this number may be down one percent from the previous month, it is up 274 percent from one year ago.

Foreclosure Defense, Foreclosures

Foreclosure Report 2021: What to Expect in the Coming Months

Posted on February 18, 2021by Admin

Foreclosures have been essentially at a standstill due to the moratorium issued by state and local governments on foreclosures and evictions, as well as forbearance programs to help keep families remain in their homes during this difficult time. However, these efforts will expire at some point, which has many worrying about what will happen once these programs end.

According to the Federal Reserve Bank of St. Louis, approximately 500,000 borrowers avoided foreclosure during the last quarter of 2020 due to various relief programs available to them, including the forbearance program offered through the CARES Act.

Foreclosure Defense, Foreclosures

Foreclosure Rates in U.S. Dip to a 20-Year Low

Posted on October 25, 2019by Admin

The national foreclosure rate has fallen to the lowest levels seen in two decades following housing reports from July 2019. Financial experts believe this drop is due to a stronger job market and a lower unemployment rate.

According to Bureau of Labor Statistics, the national unemployment rate fell to a 50-year low of 3.5 percent as of September 2019 with 136,000 jobs being added to the market. In addition, the hourly earning for all employees has gone up 2.9 percent from the prior year. As Americans have more money to spend, the chances of them falling short of meeting their monthly expenses also goes down.