According to RealtyTrac, an online marketer of foreclosed properties, the US foreclosure crisis is starting to become a thing of the past. During the month of November, 113,454 US properties filed for foreclosure (including default notices, auctions and bank repossessions) which is the lowest level since December, 2006. Filings are down 37% from November, 2012.
Daren Blomquist, RealtyTrac released a statement saying, “The depth and breadth of the decrease provides strong evidence that we are entering the ninth inning of this foreclosure crisis with the outcome all but guaranteed.”
What About Florida Foreclosure Rates?
The Florida foreclosure rates are also on the mend and residents should keep these statistics in mind if they are in a foreclosure situation. More and more homeowners are able to keep up with their mortgage payments which means it might be easier than before.
Here comes the bad news for Florida residents. Florida foreclosure rates were still holding the top prize for the highest foreclosure rate in November, with one in every 392 households in some sort of foreclosure situation. That being said, this number is down 46% from November, 2012.
What Should You Do If You Receive a Foreclosure Complaint?
If you’re one of the Florida residents who received a foreclosure notice, you only have a few options. Your first option is to try and negotiate with your mortgage company to reinstate your mortgage. If this doesn’t work, your next best option is to speak with the experienced attorneys at Berkowitz Law Group to discuss Chapter 13 bankruptcy. This type of bankruptcy can possibly save your home and allow you and your family to pay your mortgage over time. Your final option is to try and sell your home or refinance your mortgage prior to when the foreclosure is supposed to go through.
It’s important to remember that you only have 20 days to respond once you’ve been served your foreclosure complaint. It’s very important to speak with experienced professionals before proceeding as your home is one of your most valuable assets. We are dedicated to helping you and look forward to hearing from you.