RealtyTrac and the Palm Beach County Clerk of Court simultaneously reported the month of October saw an increase in new foreclosures filed. The Palm Beach County Clerk also reported that October is the 3rd month in a row where foreclosure filings have increased, with September seeing a 7% increase.
Since the beginning of 2011, new foreclosure filings have slowed down greatly, in part due to accusations of robo-signing among law firms through out Florida who were hired to pursue foreclosures on defaulted mortgages.
Florida currently stands 3rd among the 50 states for the amount of time it takes for a home to be repossessed. Above Florida, in a close race for 1st and 2nd place, are New York with an average of 986 days and New Jersey which averages 974 days.
According to the newest report from RealtyTrac, it takes an average of 749 days, slightly over 2 years, for a home to be foreclosed on and repossessed in the state of Florida. This is a 10% increase from the 3rd quarter of 2011 in the amount of time is takes for a residential property to wind its way through the foreclosure system.
Facing a foreclosure can be an extremely stressful and confusing time. Do not face it alone. Contact a Florida Foreclosure Lawyer or a Jacksonville Foreclosure Defense Lawyer today for a complimentary case review and to begin planning for you future.
