Pending mortgage foreclosure case backlog down 75% from peak in Florida – What does this mean to you?

One of the many problems caused by the national mortgage foreclosure crisis from the last decade was the explosion in the number of foreclosure filings in Florida state courts. According to statistics published in a recent article on the Florida Courts (www.flcourts.org) website, the number of foreclosure filings rose to around 400,000 cases at the height of the crisis, as compared to the normal average of 70,000 or so in an average year.

This jump in filings caused a backlog that topped 300,000 cases in June of 2013. That is why virtually all foreclosure cases over the last 5 to 6 years have experienced many months and even years of delays working their way through our state court system. As of September of 2015, that back log amount has been reduced below 80,000 cases.

To read the entire article go to: http://www.flcourts.org/administration-funding/court-funding-budget/mortgage-foreclosure.stml

What does this mean to you if you are facing foreclosure right now? It means that your lender is most likely going to push harder and faster to try and seize your property, and get you removed from the premises. Gone are the days when you could stay in your property for years while the courts tried to figure out what to do with you. In addition, much of the leniency that was afforded to struggling home owners 5, 6 and 7 years ago has gone away.

You need to contact an attorney who specializes in defending your rights before it is too late. Many of the banks and other loan servicers have made it clear that they want your mortgage payments on time, and in full, or they will push for foreclosure in short order. They are also much tighter on granting mortgage modifications than they were back then, as well.

Before your lender takes your home, you need to talk with attorneys who are knowledgeable about keeping your home out of foreclosure. Korte & Wortman, P.A. will fight for your rights against any bank, loan servicer or their attorneys. The earlier you get us involved in your defense, the better chance we have of helping you keep your home.

Contact us at Korte & Wortman now. Check out our website to see our results: working with our clients to help them stave off foreclosure and save their homes by getting them the mortgage modifications and/or foreclosure defense they need. Check out a few of our many success stories on our website at http://foreclosurefactor.com/results/loan-modification-results/.

Study shows credit card debt in south Florida / West Palm Beach area among highest % in the country

A recent study conducted by consumer watchdog website CreditCards.com reported that residents of south Florida, from Miami north through West Palm Beach carry the 4th largest credit card debt burden in the country. On average each south Floridian carries an average of $4,325 in credit card debt according to the study. Furthermore, it would take the average person over a year to pay off that debt if they started paying it off now and stopped using their credit cards until they were fully paid off.

That average credit card debt burden of $4,325 equals over 15.7% of the median individual income in our area, which is $27,453 according to published statistics from the U.S. Department of Justice. Median household income is $47,463 according to the latest Census survey in 2014. What do all of these facts and figures mean to you as a resident here in West Palm Beach?

In an article published by Kenny Malone on the WLRN website regarding the study, he quoted CreditCards.com senior industry analyst Matt Shulz who said “It certainly seems that Miami residents are putting a little bit more than they can afford on their cards. You know, as evidenced by the fact that we see that it would take the average person in Miami about 14 months and about $350 in interest to pay off their credit card debt… That’s a long time and a lot of money.”

To read this entire article please go to: http://wlrn.org/post/study-south-florida-fourth-worst-credit-card-debt-burden-country

The South Florida Business Journal also highlighted a study from the credit agency Equifax that although south Florida has seen a significant dip overall in consumer debt over the last year, that in fact “In the auto, bank credit card, and retail card category, South Floridians incurred 11 percent more debt in the 12 months leading up to March 31 (2015).” http://www.bizjournals.com/southflorida/news/2015/05/05/south-florida-has-greatest-dip-in-consumer-debt.html

If you are in West Palm Beach, Ft. Lauderdale, Miami, Tampa, St. Petersburg, Clearwater or anywhere else in the state of Florida and in need of a law firm knowledgeable about credit card debt issues, then contact us at Korte & Wortman, P.A. Korte & Wortman is a law firm specializing in credit card debt defense and defending our clients in all aspects of consumer debt issues including bankruptcy, mortgage debt, foreclosure, Deed in Lieu and short sales. We have had excellent results working with a number of clients to save them tens and even hundreds of thousands of dollars on their credit card debt, mortgage modifications, Dodd-Frank Act cases and other consumer loan issues. Check out a few of our many success stories on our website at http://foreclosurefactor.com/practice-areas/credit-cards/

Our home office is based in West Palm Beach, at 2041 Vista Parkway, Suite 102. You can call us at (561) 544-7071, stop in to our office, email us at vdinapoli@kwlawfirm.com or come to our website. Our firm represents clients throughout the state of Florida and across the eastern seaboard. We also have offices in Sunrise and Clearwater, Florida.