Foreclosure Defense Florida

Mortgage Delinquency In Florida Surges in December- Foreclosures Pile Up

If you’re in foreclosure or behind on your mortgage in Florida or the Tampa Bay area, you’re not alone.   Numbers reported in the St. Petersburg Times indicate that the rate of delinquency is approaching 20% across the State of Florida and almost 16% in the Tampa Bay area.   For more information read the article here.

Late Mortgages + More Unemployment + More Foreclosures= Continued Decline in Property Value. (Catastrophe Coming)

Tampa Bay properties tagged with foreclosure filings numbered 62,719 in 2009, up from 53,630 in 2008.   (See Article here. ) When you combine the rising default rates with a glut of properties already on the market and a pent up supply of homes that are currently in foreclosure with continued rising unemployment you have all the indicators for a deepening crisis.   The response to all of this by state and federal policy makers has been ineffectual at best and may even be exacerbating the problem..i.e. does the great health care debate help the jobs picture?   Has throwing bajillions at the banks gotten us a reasonable amount of modifications?

Delinquency

One Comment

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