Foreclosures Increase in the State of Florida
New numbers released in August revealed a stunning increase in the number of foreclosures occurring in Southwest Florida.
According to the property database company, Attom Data Solutions, the number of home owners who have begun the foreclosure process in Cape Coral and Fort Myers, has gone up 59% since July of last year.
In the month of June, foreclosures increased by 64% in Florida. This is significantly higher than the rest of the nation, which increased by just 1% from last June.
The report from Attom Data Solutions says foreclosures are up nationwide for the first time in 3 years. The report also shows that the biggest increases were in Southwest Florida.
Trulia says that more than 300 homes in the Cape and more than 400 homes in Fort Myers are in the middle of being foreclosed.
Attom Data Solutions says that due to Obama era lending standards for banks that have since been loosened by the government, more people are taking risks with their home loans. These risks have led to the spike in foreclosures that is being seen in Southwest Florida. Attom also says that Hurricane Irma might be a contributing factor to the high number of foreclosures.
Are You Facing Foreclosure?
If you are struggling to pay your mortgage and find yourself facing foreclosure, you should immediately consult with our skilled team of foreclosure defense lawyers in Southwest Florida to discuss your situation. Our legal team has the skills and resources that you need to protect your home. We are focused on serving our clients' needs and will do everything that we can to obtain a positive outcome.
Call (239) 970-6844 today to set up your free case evaluation to meet our attorneys and staff in person.