Palm Beach County Foreclosures are back in full swing again. The robo-signing disputes are pretty much over. All of 2011 we did not see very much foreclosure activity or many foreclosure lis pendens filings because 1. the banks were dealing with the robo-signing problems and 2. the big banks were waiting to see what they were going to end up negotiating with the administration.
Last month almost 1,200 homes went into foreclosure! That is an increase of 58.5% over the same time last year.
Sharon Block, the Court Clerk said she was not suprised at all. They were expecting this increase because of the delays from last year.
The state of Florida is loooking for ways to deal with the 368,000 backlog in foreclosure courts. We need to be mindful of what those changes will be because you want to protect your property rights. There is a bill that just passed the house and is now in the state Senate regarding a fast track for foreclosures.
Completed foreclosures are now also on the rise. In February there were 929 properties advertised for sale and about 68 % of these were closed on schedule. That is compared to about 49% from a year ago.
If you have been living in your house without making payments for a few years, that time may be coming to a quick end for you shortly. It may be time for you to start making your plans about where you are going to move once the bank forecloses on your property.
There may still be time for you to complete a Palm Beach County Short sale. Contact Nestor Gasset or Katerina Gasset at 561-753-0135 for a confidential short sale evaluation on the phone. You may even qualify for relocation cash to help you move from your lender.