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We practice CONSUMER BANKRUPTCY
law exclusively. 407-982-3763

We practice CONSUMER BANKRUPTCY law exclusively. 

One of the top Bankruptcy Filers

in the Orlando Area

One of the top Bankruptcy Filers

in the Orlando Area

Home » Firm News » Jump in home foreclosure rates shows recovery not too strong

While the recession may technically be over and the economy and jobless rates are said to be improving, there are certain economic indicators that show there is still room for more recovery. One area of concern is the state of the housing market in Florida and other states. While the numbers are not bleak, there is still cause for concern when it comes to home foreclosure.

A recent report indicated that there over 116,000 properties that were currently in the midst of the home foreclosure process in August. This means the rate of foreclosure activity was noted to be up 7 percent compared to July. Although that was a monthly increase, it was still down from a year ago.

The number is said to indicate that the recovery that has taken shape the last two years is not considered as strong as most people may have perceived. As for Florida, it still has the highest home foreclosure rate in the entire country. Nevada, New Jersey, and Maryland were also said to have to have high rates of home foreclosure.

Home foreclosure in Florida and other states can be a long and arduous process. Many homeowners may not be aware of the steps that occur and the different stages that they must confront. Also, many struggling Florida homeowners may not realize there are programs and other options for possibly keeping a home and avoiding home foreclosure altogether. It is important for homeowners to have all of the facts so as to fin d and pursue the best outcome for their particular situation.

Source: dailyfinance.com, “Home Foreclosure Activity on the Rise in August“, , Sept. 11, 2014