“Existing home sales plunged nearly 10 percent in February to their lowest level in nine years…And new home sales are on track to come in at just 250,000 this year, the fewest since the Kennedy administration, when there were 120 million fewer people in the United States.”
Journalists are reporting in on February’s foreclosure statistics, and in some ways, they’re even worse than expected. AP reporters Alex Veiga and Derek Kravitz take an even bigger bite out of these numbers:
“…A recent study by Capital Economics found that 60 percent of sales are to foreigners and investors…in international real estate circles, the U.S. is viewed as the ‘new emerging market.’”
Despite recently completing our 3,000th mortgage loan modification, the foreclosure defense attorneys and staff at Amerihope Alliance continue to warily watch the decline of the mortgage market. According to foreclosure statistic site Realtytrac, South Florida counties Broward, Miami-Dade, and Palm Beach are still churning out the most foreclosures every month, closely followed by Lee and Orange counties.
Lee County’s foreclosure infamy has reached new levels recently as the ACLU has now filed suit against their unusual “Rocket Docket” process. According to filmmaker Raymond Schillinger, who recently released a film about foreclosures in Lee County called “Dreams for Sale: Lehigh Acres & the Florida Foreclosure Crisis,”
“…nearly 1 in 3 homes in Lee County remain unoccupied, while home prices continue to sink to nearly pre-2000 levels.”
The ACLU filing includes numerous unsavory e-mails between court employees showing the drive to close foreclosure cases at all costs. Employees send numbers back and forth as to how many hundreds of cases judges can hear every week, and officials also discuss what valid defenses should be ignored for the sake of the “Rocket Docket.”
No one, at this point, is talking optimistically about the rest of 2011 in the housing market. News sources such as CBS have said that the tide is turning, and have claimed that 2011 will “peak” with 1 million foreclosures, but that concept runs on the assumption that 2012 will see some kind of improvement. The Attorney’s General foreclosure settlement negotiations are almost out of steam, as regulators are now reproducing the banks’ offers as their own, and several AGs have split from the negotiations entirely. Some, such as Florida AG Pam Bondi, have complained that the settlements are too strict and “consumer-friendly.”
True foreclosure advocates haven’t wavered in their advice to foreclosure crisis victims: Hire a qualified foreclosure defense attorney. Amerihope Alliance has 3 years experience of hard work for clients who want to fight for their homes. There are several paths for struggling homeowners including bank litigation (sue the bank), foreclosure mediation or conciliation, loan modifications, and more – talk to us right away to see what we can do to help you!