Underwater Homeowners Increase to 28 Percent in Florida, U.S.
If you owe more than your home is worth, you’re not alone. According to a recent report by Bloomberg, more than 28 percent of U.S. homeowners with a mortgage are underwater as first quarter values fell the most since 2008.
Miami Foreclosure Defense Attorney Bruce Jacobs is a member of “Max Gardner’s Army,” a group of nationwide defense attorneys sharing cutting-edge strategies and information in real time. Our firm is dedicated to assisting you if you’ve fallen prey to the predatory lending practices that have plagued thousands of struggling Miami homeowners or if you’re staring foreclosure in the face because of unemployment or illnesses.
According to Seattle-based Zillow, homeowners with negative equity jumped from 22 percent a year earlier as home prices slumped 8.2 percent over the last 12 months. Zillow predicts home prices could fall as much as 9 percent in 2011 as unemployment rose to 9 percent in April.
At the same time, foreclosures fell to the lowest level in three years in the first quarter as lenders worked through a backlog of flawed paperwork, according to RealtyTrac Inc., an Irvine, California- based real estate information service. Foreclosure filings are likely to jump 20 percent this year, reaching a peak for the housing crisis, RealtyTrac predicted in January. Filings continue to be delayed because of fraudulent paperwork filed by banks. The tide is turning in favor of the homeowner fighting to stop foreclosure in Miami.
Fighting a foreclosure in Florida could not save you house and help protect your finances in the future. These problems in bank documentation give Bruce Jacobs and Associates the opportunity to use the law to the homeowner’s advantage. It’s possible to avoid a deficiency judgment with the right kind of representation.
While saving your home may seem hopeless, don’t give up. Consult with an experienced Miami foreclosure lawyer before laying down for your bank or lending institution. It may not only save your house, but may preserve your future.
Negotiate from Strength!
If you need help with foreclosure issues in Miami or the surrounding areas, including short sales, deficiency judgments, strategic defaults or other help for Miami homeowners, contact Jacobs Legal for a confidential appointment to discuss your rights. Call (305) 358-7991.