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Florida's foreclosure woes persist; government provides some tips

National real estate information company RealtyTrac recently released its latest report on the nation’s foreclosure situation, and that report spells dire news for Florida.

A media story discussing the July 2014 U.S. Foreclosure Market Report indicates that, while the country continues to claw its way back from the so-called Great Recession, Florida materially lags other states in its housing recovery.

In fact, Florida led all states last month in foreclosure-related activity for the 10th consecutive month, with filings being at a rate exceeding the national average by more than 250 percent.

For understandable reasons, the federal government is concerned about that, as well as with the need for ongoing and material improvements in the housing industry. A government website page provides a summary look at some of the central programs available for helping stressed homeowners.

An initial tip provided on that page stresses that a challenged homeowner first consider contacting his or her lender in an attempt to negotiate changes to an initial financing agreement. Some lenders will willingly provide some mortgage relief.

And, of course, some won’t, which raises the need for borrowers to look into the options discussed by the U.S. Department of Housing and Urban Development. Some of those include these programs:

  • Making Home Affordable Program
  • Home Affordable Modification Program
  • Principal Reduction Alternative
  • Home Affordable Refinance Program

Details concerning these programs can be perused on the above-noted website page.

Ultimately, many challenged homeowners find relief by contacting a proven bankruptcy and debt relief attorney, who can seek an automatic stay providing instant relief to a borrower across a wide spectrum of concerns.

And, for many homeowners, filing bankruptcy confers that most valuable of benefits, namely, the ability to save a home and continue living in it.

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