In July of 2010, the Tampa Bay area saw more than 6,000 people received some kind of foreclosure communication. That number includes initial foreclosure filings, notices of foreclosure sale or repossession notices. That number fell to just 2,751 in July 2011, a nearly 54 percent decrease in people receiving foreclosure paperwork. To some, this signals a national trend that the foreclosure crisis has reached its peak.
Advocates that the foreclosure crisis has peaked cite a number of possible reasons to support their contention.One potential possibility is that lenders are being cautious in filing because of the new allegations of robo-signing and potential falsification documents. But even if that is the case, the government emphasis on curbing foreclosure fraud has helped the number of foreclosure filings remain at bay as lender have grown more cooperative in striking deals with homeowners. This could be because the government is applying pressure on lenders behind the scenes or because the task of proving ownership appears to be a daunting one, too burdensome for lenders to undertake.
This doesn't mean the housing market is in the clear just yet, although the "big drop" in foreclosures from July 2010 to July 2011 hopefully means the nation has weathered the worst of housing woes. In fact, National foreclosure filings in July 2011 were down 35 percent from where they stood in July of 2010.
Just because foreclosure filings are down now doesn't mean that they won't jump up again in the future. If you should receive a Florida Foreclosure Lawsuit, be sure to contact a Florida Foreclosure Lawyer or a Jacksonville Foreclosure Lawyer as soon as possible to determine the best way to proceed.
