Is El Nino causing unusually warm temperatures on the Foreclosure rate heat map? Since January 2007, the US has experienced more than 8.5 million foreclosure starts (and over 4 million completions).  Florida remains only second to California in foreclosure activity, with one out of 364 housing units in foreclosure statewide.  Closer to home, the breakdown is more poignant in Clay County, where one out of every 301 homes is in foreclosure, but Duval still remains in the top ten metro areas of the state in foreclosures. There is an ebb and flow as the foreclosure procedure evolves in the justice system.  For instance, we saw an ebb in the Fall of 2010 when Bank of America and others halted foreclosures to sure up subject matter jurisdiction.  They paused, got their paperwork straight, then proceeded.  And now the Florida Supreme Court is examining voluntary dismissal of foreclosure cases.  If the lender realizes he is committing fraud or otherwise cannot win, he can voluntarily dismiss his case and then re-file without waiting for a judge’s dismissal and hoping for “without prejudice.”  This is the judicial system evolving, working through procedures. You may not be able to turn the tide, but Foreclosure Defense […] Read More