Description
Did you know ?
The best approach if you are a defendant in a foreclosure filing is to be proactive. Ignoring correspondence from the banks will only complicate the issue.
Homeowners in Foreclosure
Starting in 2008, foreclosures in Central Florida began to increase at an alarming rate, reaching a peak in 2009. Even as foreclosure filings have fluctuated in recent years, Florida has consistently ranked as one of the top states in foreclosures. A recent RealtyTrac study finds 1 in every 400 Florida homes is in foreclosure. In Orange County, the numbers are even higher, with 1 in every 253 homes in foreclosure.
What is Foreclosure?
Foreclosure is defined as a legal process by which a bank or lender attempts to recover a property as a result of the homeowner’s failure to make payments. Perhaps the first question someone facing foreclosure might ask is, “where do I begin?” The first step is understanding how the foreclosure process works and what you need to do.