Florida has the Nation’s Highest Foreclosure RatePosted on January 23, 2013 by
Florida now has the highest foreclosure rate nationwide, and it is becoming a major problem.
Of the 10 metropolitan areas with the highest foreclosure rates, seven are in Florida. In 2012, foreclosure filings jumped 20 percent, and one in five mortgages in the state are currently delinquent.
According to the Orlando Sentinel, Seminole County Judge Alan Dickey had, at one point, scheduled 300 foreclosure cases in three days. He said if everyone showed up, he would have enough time for 30 seconds per case.
The foreclosure process currently takes more than 600 days to run its course in Florida, which is adding to the problem of the courts being backlogged.
The latest bill introduced to correct this problem, HB 87, was filed in Tallahassee at the beginning of January, but it is already being attacked by consumer advocates. This is the third attempt by the state legislature to correct this problem, and each has been met with consumer outcry.
If you feel like you may be facing foreclosure, don’t wait until it is too late and you are sucked into the court system; contact Boyer Law Firm today to discuss your options. We have successfully helped clients lower their payments and avoid foreclosure through either an in-house loan modification program or government program.
Tags: Florida Real Estate
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