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