Still ranking in the top 6 states in the nation for foreclosure filings, the need for Florida foreclosure defense services is hardly likely to diminish anytime soon.
In September of this year alone, one in every 368 housing units in Florida was delivered a foreclosure notice according to data compiler Realty Trac. Add to this the fact that the number of underwater homeowners in South Florida has risen 5% from last year, to a high of 47% and it is clear that despite some warming in the housing market Florida foreclosure defense help is needed by a huge portion of the population in the tri-county area.
It is true that some pockets of South Florida have begun to see improvement in terms of both increased sales volume and homes prices but for underwater homeowners it just isn't coming fast enough. With prices down between 50-70% from their highs in some neighborhoods it is unlikely that most homeowners will see their equity grow fast enough to complete a conventional sale before the bank swoops into foreclosure.
Unfortunately, many South Floridians have continued to procrastinate when it comes to seeking out Florida foreclosure defense assistance from a qualified attorney. To a large extent this is not just due to a lack of awareness that there is help available out there but
a false sense of security which has been given by stories of homeowners escaping mortgage payments for extended periods of time. While it may be true that some homeowners may have successfully dodged foreclosure for many months or even over a year, they also need to recognize that others are being foreclosed on in just a couple of months. Simply sitting back and hoping that the police department won't show up and toss your items out on the street today is obviously not a solution. In fact, as Florida has been identified as one of the few improving housing markets in the country
it is likely that banks and lenders will speed up the foreclosure process here.
There are a number of options available to most homeowners who find themselves about to fall behind on their mortgage payments or who are already delinquent. This includes loan modifications, short sales, filing for bankruptcy protection and executing a deed-in-lieu of foreclosure. However, it isn't just those who have lost their jobs and who can't keep up with their mortgages being foreclosed on today. The drop in home values and comments of some financial 'gurus' who have appeared on the news has driven many other homeowners to attempt their own 'strategic defaults'.
Unfortunately, without knowing all of the ins and outs of the foreclosure process many of these homeowners are doing themselves serious financial harm which can have long lasting consequences. In particular few are prepared to negotiate with lenders when it comes to
deficiency judgments, or even know what they are.
This means hundreds of homeowners who tried the DIY approach to Florida foreclosure defense are now not only without a home but still owe on the mortgage they were trying to escape from.
Every case is different and there is no one size fits all, cookie cutter solution that is right for everyone. The best form of foreclosure defense for any Florida property owner depends on their individual goals, total financial picture and the stage of foreclosure that they are in as well as the property itself. So the only right way to stop foreclosure or at least exit your property gracefully and perhaps with money in your pocket is to
consult a professional Florida foreclosure defense attorney who will take the time to analyze your personal circumstances with you and present you with all of your options.
We here at the Carman Law Firm have seen a substantial uptick in banks filing foreclosures and more recently pursuing deficiency judgments. Steps can be taken now to protect you against the worst-case scenario, something we at the
Carman Law Firm have been doing successfully during the last few years.
Call us today and schedule a FREE consultation (561) 392-7031
