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An update on Florida’s foreclosure situation

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The foreclosure outlook in Florida has shown promise for quite some time, and according to one recent study, this optimistic trend continues. A study by Realty Trac (a real estate information company and online marketplace) revealed that foreclosure activity in the Sunshine State has decreased by 17 percent over the previous 12 months. This same study also included other important statistics as well.

  • The number of foreclosure filings that began their course during the last 12 months is 28 less than the amount the year before. In a year-over-year comparison of scheduled foreclosure auctions, the percentage decrease clocked in at 46 percent.
  • Approximately 1 in every 186 Florida homes had filed a foreclosure in this year’s third quarter. In comparison to the rest of the nation, Florida now ranks second in this statistic, behind New Jersey.
  • In terms of the number of bank repossessions in the Sunshine State, the amount of homes repossessed has increased by over 30 percent from a year ago, signaling that existing foreclosures are on the tail end of its life span.

Though these recently acquired statistics back up the argument that the foreclosure situation in Florida is improving, there are still many residents left struggling with the complex issues that foreclosure brings.

If you are embroiled in a foreclosure situation and do not know where to turn next, Graham Legal can help. Our trained attorneys have a great deal of experience helping Florida residents face the difficult aspects of foreclosure. If you are thinking about battling foreclosure on your own, Graham Legal would strongly advise against that decision. The cost of foreclosure defense is entirely feasible, and with a reputable foreclosure defense team such as Graham Legal by your side, you’ll be offered the greatest chance of success in your unique situation. We invite you to schedule an initial consultation with one of our skilled foreclosure defense attorneys and learn more about the cost of foreclosure defense today.

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