• April 4, 2018

Florida Foreclosure Pain

Florida Foreclosure Pain

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Florida Foreclosure

florida foreclosure

Florida Foreclosure activity is on the rise as Florida continues to have one of the highest rates of foreclosures in the nation. California and Nevada round out the top three and foreclosures were reported as increasing 32 percent from last year.

This means that more bank reports are on the way and depreciation of Florida real estate values will continue.

The bottom is still a long way off, and investors should be patient, consider cash flow and ask “what if this property depreciates 3% per year for the next ten years?”.  Florida Foreclosure pain continues.

This statement is worth noting “In Florida, one in every 135 households received a filing in April.”

From Wikipedia, a Florida Foreclosure is a legal process in which a lender attempts to recover the balance of a loan from a borrower, who has stopped making payments to the lender, by forcing the sale of the asset used as the collateral for the loan.

Formally, a mortgage lender (mortgagee), or another lienholder, obtains a termination of a mortgage borrower (mortgagor)’s equitable right of redemption, either by court order or by operation of law (after following a specific statutory procedure).[2]

The 2010 United States foreclosure crisis, sometimes referred to as Foreclosure-gate or Foreclosuregate,[1][2] is an ongoing and unresolved issue in the United States and refers to an apparently widespread epidemic of improper foreclosures initiated by large banks and other lenders. The foreclosure crisis was extensively covered by news outlets beginning in October 2010, and several large banks, including Bank of America, JP Morgan, Wells Fargo, and Citigroup temporarily responded by halting their foreclosure proceedings in some or all states.[3][4] The foreclosure crisis has caused significant investor fear in the U.S.[5] A 2014 study published in the American Journal of Public Health links the foreclosure crisis with an increase in suicide rates.[6]

One out of every 248 households in the United States received a foreclosure notice in September 2012, according to RealtyTrac. [7] [8]

Relevé Property ManagementLakewood Ranch, Bradenton & Sarasota

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