Florida Starts 2014 as #1 for Foreclosures

02/25/2014

bankruptcy lawyer Ft. LauderdaleRealtyTrac®, the California-based source for comprehensive housing data, recently released its U.S. Foreclosure Market Report™ for January 2014. The report tracks foreclosure filings, including default notices, lawsuits, scheduled auctions and bank repossessions. There were 124,419 foreclosure filings on properties across the country last month, which is an 8% increase from December, but still down  18% from  January 2013.

Even though the country’s foreclosure rate is on the decline, Florida ranks #1 as the state with the nation’s highest foreclosure activity. Florida’s foreclosures reportedly increased 19% from December, but this is still 13% lower than January 2013. Many attribute the annual decrease in Florida’s foreclosures to the fast track legislation passed in July of last year.

Even so, Florida still has one in every 346 housing units with a foreclosure filing. The greater Miami area has the second highest foreclosure rate for metro areas with one in every 239 housing units in foreclosure. In fact, eight of the top 10 metro areas for foreclosures are located in Florida. It appears that the foreclosure crisis is lingering longer in Florida.

Please keep in mind that every case is different. If you have questions about filing a personal bankruptcy or how a Chapter 7, 11 or 13 could impact a foreclosure, and would like to schedule a no-cost consultation, please contact our office by completing the form on this website, calling us at 954-920-5355, or emailing us at info@lslawfirm.net.

 

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calling us at 954-920-5355, or e-mailing us at info@lslawfirm.net.