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Foreclosures down, but homeowners still struggle

Latest statistics show that the real estate crisis in Florida may have peaked. In the six months leading to July 2017, home foreclosures were down 33 percent. Compared to the first half of the year previous, foreclosures are down 56 percent.

Before we uncork the champagne to celebrate, realize that this still means 12,463 homes are at one stage of foreclosure or another - new cases, scheduled auctions and bank repossessions.

An unbalanced recovery

In the meantime, new foreclosures continue to come onto the market. These are the result of an uneven economic recovery, and individual circumstances.

In and around Broward County, about 1 percent of homes are currently in foreclosure.

These statistics are furnished by the research firm of ATTOM Data Solutions of research Irvine, California. That is a high number historically, but it is lower than it has been since the financial crisis began in 2008.

Another positive sign is that the share of homes being bought by banks is in decline. Where banks and other lenders have been snapping up the vast majority of foreclosed homes in recent years, now they are buying a bare majority of 59 percent.

What does this mean for you if you are in foreclosure or facing it? It means the problems are still with us, but they are not quite as intense as they have been.

Now more than ever

It is as important as ever for you to work with an experienced foreclosure prevention attorney to save your home and protect your interests.

A firm like The Andres Lopez Firm of Broward County continues to serve homeowners at every level, including litigation, which many firms shy away from.

We know every defense against foreclosure and have been successful with everyone. We are anxious to hear your story, and show how we can help.

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