New filings for foreclosure in October spiked 28 percent in Florida from the previous month, boosting Florida to the No. 4 sport for foreclosure activity nationwide. This statistic from a RealtyTrac report will put Florida in the top five, a place they have not been since November 2010. However, despite the fact that the number of Palm Beach County homeowners filing for foreclosure increased 7 percent in October, the number is still down 55 percent from October last year.
Daren Blomquist, spokesman for the Irvine RealtyTrac, said that states like Florida, where foreclosures must go through the court system, experienced a 16 percent increase in new filings in October and September. However, there continues to be incorrect foreclosure documents filed in the courts, resulting in an increase in case dismissals because the banks don't have the necessary paperwork. Even if the cases are dismissed, individuals and families are left without the loan modification that they need.
RealtyTrac estimates that all foreclosure filings will reach between 2 million and 2.5 million this year. If you or your family are facing the possibility of losing your home, a Palm Beach bankruptcy attorney can help. From finding alternatives to bankruptcy to working with the lender to modify your loan, a skilled lawyer can help you keep the home you love.