Florida foreclosures are now taking longer than ever, they average almost two-and-a-half years during the first three months of this year, according to a new report by the research firm RealtyTrac, Inc.
Florida foreclosures have grown since the end of last year, and Florida has exceeded every state except New York and New Jersey in terms of the time it takes a bank to reclaim a house.
This is somewhat a good and bad thing for homeowners. Many homeowners put off their economic hardship until the last minute when the foreclosure action has been filed with the court.
The best practice is to capture the foreclosure suit before it is filed and try to either apply for a loan modification, deed in lieu or short sale. There are many programs including governmental programs that will prevent you being foreclosed upon if you qualify.
If you are facing similar issues discussed in this article please do not hesitate to call Boyer Law Firm, we have handled foreclosure cases or soon to be foreclosures and obtained favorable results for our clients.