The good news is that Foreclosure filings declined nationwide in May. The bad news is that foreclosure filing in the Jacksonville area have risen more than 55%. According to the Florida Times-Union, foreclosure filings in Jacksonville area rose from 2,415 in April to 3,789 in May. The sharp increase may have been caused by more homeowners trying to renegotiate their mortgages and falling victim to foreclosure or the fact that mediation between the lender and the borrower is now required in all residential foreclosure cases. Unfortunately for Jacksonville homeowners, foreclosure filings could continue to rise throughout the year due to high unemployment rates and the continuing failure of government mortgage-assistance programs.
Simply because you have been given a foreclosure notice does not mean that you automatically lose your home. In many cases a foreclosure lawsuit has legal defenses that a Florida Foreclosure Lawyer can advise you of. Many people are under the mistaken belief that they do not need to answer the lawsuit properly because of a scheduled mediation. This is not true and even if you elect to participate in a court ordered foreclosure mediation, you must respond timely to the foreclosure lawsuit. Contact a Jacksonville Foreclosure Defense Lawyer to discuss your options and rights.
