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The rate of foreclosures in Miami has fallen by 5.9 percent in July. This has been its lowest point since the crash of the housing market. Unfortunately, Miami, which also includes Miami Beach and Kendall, are still among the highest in the country. The number of outstanding mortgages averages at about 1.7 percent in the county. Meanwhile, in Miami, it is almost 3 times that percentage. This is all according to CoreLogic, an Irvine, California data-based firm.
In July 2013 the rate of foreclosures in Miami, which indicates the number of properties whose mortgages are going through some process of foreclosure, was 11 percent. Earlier in the year, 5.5 percent of mortgages were past due nationwide. And, as of July, only 4.3 percent are delinquent in the Country. However, in July of this year, the rate of mortgages that were past due for 90 days or more in Miami went down to about 12 percent from the previous 17.4 percent at the beginning of the year.
If you have questions about Foreclosure, Loan Modification, Bankruptcy, Short Sale, or other alternatives, please feel free to call my office at 888-886-0020, send an e-mail to emil@fleysherlaw.com, or complete the contact form below.
Emil Fleysher is a South Florida attorney dedicated to helping individuals overcome financial hardships. As the founder of the Law Office of Emil Fleysher, P.A., he specializes in bankruptcy, debt settlement, foreclosure defense, and mortgage solutions.
A graduate of Nova Southeastern University Shepard Broad Law School (2009, honors), Emil has a strong commitment to consumer rights and has volunteered over 300 hours with Legal Aid of Broward County. His firm takes a personalized, client-focused approach to debt relief, ensuring individuals understand their options and regain financial stability.
For those facing overwhelming debt or foreclosure, Emil offers free consultations to explore the best solutions.
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