The national mortgage foreclosure crisis continues to affect borrowers, lenders, and the economy in Florida.
Foreclsoure RatesFLORIDA
At the height of the foreclosure crisis, filings in Florida state courts soared to 400,000 cases in one year, compared to an average of about 70,000 case filings per year before the crisis.
FORCLSOURES
With new cases being filed faster than the Florida courts could resolve them, a backlog developed. As of April 30, 2014, there were about 185,823 mortgage foreclosure cases pending in Florida courts.
FLORIDA COURTS
Too many distressed homeowners give up at the first sign of foreclosure or walk away. There are many situations in which you should stay where you are and fight.
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