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Foreclosure rate remains high throughout Florida

The New Year is here and many Florida residents who had a difficult 2013 are hoping for better things this year. Unfortunately, 2013 was a very tough year for many Fort Lauderdale residents as the area continues to have very high rates of home foreclosures. In fact, in November, which is the latest month for which data is available, Florida led the country in foreclosure activity.

Among large metropolitan areas, Miami had the most foreclosures in November 2013. On the positive side, the foreclosure rate from 2012 to 2013 did decline, and hopefully this rate will continue to fall even lower in 2014. 

According to the Miami Herald, one out of every 400 homes in Broward was subject to a foreclosure filing in November 2013. In Miami-Dade, one of every 244 homes received a foreclosure filing. While that is certainly a lot of foreclosure activity, the state of Florida actually experienced 23 percent less foreclosure activity in November 2013 than November 2012.

However, a number of people are entering the New Year under the immense pressure and stress of a pending foreclosure. Florida residents need to be aware that they do have the right to defend themselves against foreclosure, and there may be options that will help them stay in their homes. Florida residents who are facing foreclosure may benefit from seeking legal counsel to learn about their rights and options. In many cases, there are viable defense options available, but it is important to act quickly and under skilled counsel.

Source: Miami Herald, "Florida leads the nation in foreclosure activity," Martha Brannigan, Dec. 11, 2013

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