That is a word that has decidedly negative connotations associated with it.
It is also a word that is as closely linked with Florida as with any other state in the union, given the high level of foreclosure activity that has marked the state since the great national housing debacle of recent years.
As this blog and many other sources of commentary have strongly noted, the housing woes faced by high numbers of Floridians and other homeowners across the country have often owed to extraneous factors entirely beyond their control.
That is, foreclosure has owed in many instances to shady and predatory bank lending practices rather than to owners’ disinclination to make timely payments or otherwise work in good faith with lenders to resolve difficulties.
In fact, resolving such difficulties has been a flat impossibility in many instances because lenders simply prefer to pull the trigger on the foreclosure process rather than to work responsibly with consumers who want to keep their homes.
The bottom-line result for many homeowners in Florida has been prolonged frustration owing to failed attempts to involve lenders in good-faith discussions and negotiations intended to benefit all parties to a loan. Foreclosure has been the fated result in far too many cases.
As to just how many cases, readers might want to consider this: The national organization RealtyTrac states that Florida — which has topped the nation a number of times in foreclosure-related filings — had the country’s highest foreclosure rate last month. Much of that foreclosure activity occurred in South Florida.
Many Floridians seeking to save their homes or otherwise secure debt relief opt to work with an experienced Florida bankruptcy and debt relief attorney. Proven legal counsel can help ensure that a challenged consumer’s best interests are always fully promoted.
Source: WCTV, “Florida leads nation in foreclosures,” Associated Press, May 19, 2014