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Tenants should closely monitor foreclosure

Rental foreclosure
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Many families in South Florida were being evicted from their foreclosed upon rental units with little to no notice. Aiming to combat this, the Florida Legislature passed a law in June of 2015 that affords tenants a minimum of 30 days to vacate foreclosed residences. While this does give renters a bit of time to plan for the move, many still struggle with the challenging and expensive task of changing homes.

Know your situation

The best way a tenant can approach potential eviction from their foreclosed upon home is to become aware of the current legal proceedings and have some sort of alternate plan in place. Simply ignoring the situation and waiting to be evicted is one of the worst things that a renter can do. By becoming educated about the specific details, tenants will be better equipped to create a viable contingency plan for the impending foreclosure. Additionally, speaking with an experienced Miami foreclosure attorney about the situation as soon as possible will allow a tenant to best explore every option.

Florida tops nation

Though Florida has seen immense improvement since the wake of the housing bubble collapse and recovery, it still tops the nation in many foreclosure categories. The foreclosure rate in the Sunshine State has fallen by 50 percent in the previous year, but still clocks in at double the national average. The counties of Miami-Dade, Palm Beach, and Broward boast some of the highest rates, with an estimated 16 percent of all mortgages currently underwater.

If you are one of the many Florida residents currently battling foreclosure or potential eviction, Graham Legal wants you to know that you are not alone. Graham Legal has a successful track record of assisting those combating foreclosure. A trained Miami foreclosure attorney will help you devise the best course of action based on the specific details of your foreclosure situation.

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