Florida foreclosures expected to cool down in 2014

Miami /
Jan.January 06, 2014 03:45 PM

Residential foreclosures dating from the recession might be coming to an end this year in Florida. Deerfield Beach foreclosure defense firm Ticktin Law Group, for example, said it has seen a decline in mortgage foreclosure defense cases.

“By this time next year, almost all of the mountain of foreclosures is going to be a memory,” Peter Ticktin said.

In Palm Beach County, there were 643 new foreclosure filings in November, a 46.7 percent year-over-year drop.

“If current trends hold, Palm Beach County will see approximately one-third fewer foreclosures filed [in 2013] than were filed in 2012,” Clerk and Comptroller Sharon Bock told Daily Business Review.

Banks that sped up a mortgage with a default notice back in 2008 now must acquire a foreclosure judgment to do so. Banks did not hurry last year to file foreclosure motions ahead of the statute of limitations kicking in, as some real estate experts had expected. [Daily Business Review]Mark Maurer


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