Lewis & Monroe, PLLC
Free One-Hour In-Office ConsultationsFree One-Hour In-Office Consultations

Florida homeowners continue to face foreclosure fears

Realizing that you simply cannot afford to keep up with mortgage payments is hard. There's the worry of just what is going to happen and where you are going to live, and for some, a certain amount of shame realizing that you may end up losing your home.

For those residents living in Florida, they should know they are certainly not alone. In fact, Florida ranks No. 2 in the country when it comes to foreclosures. Nationwide there were 795,000 homes lost to foreclosure between July 2011 and July 2012. During that time, 90,046 were homes in Florida.

Florida was also one of five states in the country where there is a concentration of foreclosures. In fact, the five states of Florida, California, Georgia, Texas and Michigan make up nearly 50 percent of all of the completed foreclosures in the U.S.

Fortunately, for those homeowners who are struggling, there are often options available to try and save a home. Some owners go the route of a short sale, which is when the lender allows the home to be sold for less than the amount owed on it. However, in other situations homeowners qualify for a loan modification, which reduces the overall monthly mortgage payments to something that is more affordable given an owner's current financial situation.

But yet, other times owners look at their entire debt picture and realize that if they filed for bankruptcy to discharge debts -- or came up with a manageable payment plan for their debts -- they'd be able to make their mortgage payments.

Source: Phoenix Business Journal, "Arizona, U.S. foreclosure numbers continue to fall," Kristina Hansen, Aug. 28, 2012

Our firm can go into more detail and explain all of the different debt relief options that may be available in order to avoid a foreclosure. To learn more, please visit our Orlando short sales/deed in lieu/foreclosure page.

No Comments

Leave a comment
Comment Information
ABA Defending Liberty Pursuing Justice American Bankruptcy Institute The Florida Bar 1950 CFAWL Criminal Florida Association For Women Lawyers Orange County Bar Association
Email Us For a Response

Contact The Firm In Orlando, Florida

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Lewis & Monroe, PLLC

651 Rugby Street
Orlando, FL 32804

Phone: 407-917-4147
Fax: 407-246-0008
Map & Directions