South Florida is evidence of the real estate and economic crisis that this country currently faces. Foreclosure lawsuits are on the rise and bring a sudden end to the American dream. When in 2006 the number of foreclosure lawsuits filed in Miami-Dade County was less than 10,000, that number has increased to more than 56,000 in 2008 and the trend seems to further increase in 2009.
Owners either react to TV and radio advertisements and end up paying high fees to companies promising “guaranteed results,” or feel forced into bankruptcy proceedings. And while bankruptcy may be the only option for some owners, other alternatives, such as attempts at loan modifications and short sales should be explored first. Such attempts should not be left in the hands of unregulated advisors but rather should be left to licensed and experienced attorneys.
The law firm of Pauly P.A. advises clients with their real estate and foreclosure defense needs. Please feel free to contact us for a consultation.