Miami Foreclosures: Maps Show Florida’s Losses

Miami foreclosure attorneys realize there is barely a corner of the country that hasn’t been touched by the foreclosure crisis. blight.jpg

However, recent Google Maps feature allowing site visitors to actually see the destruction in the form of satellite maps, pin-pointed with red dots that represent foreclosures in the region.

Miami foreclosures are in the top five in the nation. In fact, Florida cities holds seven of the top 20 spots in terms of the rate of foreclosures.

Here’s a closer look at those figures:

  • Sarasota was number 19, with 1 in 21 homes in foreclosure;
  • Tampa was number 17, with 1 in 20 homes in foreclosure;
  • Naples was number 14, with 1 in 18 homes in foreclosure;
  • Deltona was number 13, with 1 in 17 homes in foreclosure;
  • Orlando was number 9, with 1 in 15 homes in foreclosure;
  • Miami was number 5, with 1 in 14 homes in foreclosure;
  • Cape Coral was number 2, with 1 in 12 homes in foreclosure.

The only place that topped Florida in terms of foreclosures was Las Vegas, NV, which reported 1 in 9 homes in foreclosure. The nationwide average is 1 in 46 homes in foreclosure. That means Florida – even in some of the better-case scenarios, is about double the national rate of foreclosures.

The Miami foreclosure crisis is epidemic, and shows little signs of slowing.

For the individuals who are battling a Miami foreclosure, that means you need an attorney who has a breadth of knowledge and experience in this realm, to help you navigate the common pitfalls – which you will cross inevitably, seeing as how many are intentionally set by large financial institutions to protect their interests and bottom line.

What does it mean for everyone else? In a word: blight.

The Sun-Sentinel recently reported that there have been more than 10,000 property code violations lodged in 10 South Florida cities over the last five years.

In many cases, the cities cited the banks – who possessed the title to the home. These are things like overgrown lawns, facade disrepair and even crumbling structures.

And yet, they frequently get around having to pay for any repairs or fines. How is that?

Through a tactic that Miami foreclosure attorneys have become increasingly familiar with: passing the buck.

Unlike you or I, who would have to complete the work ourselves or pay for it to be done immediately or face costly fines, the banks simply point the finger at the next one down the line, usually the loan services. They can also evade or delay accountability because they are large institutions, typically based out of state.

In many cases, the Sun-Sentinel found that even though the banks kick-started the foreclosure process years ago – forcing families from their homes – they refuse to complete the process and take the title to properties that aren’t likely to sell quickly. That allows them to avoid responsibility, and in some cases, the unfortunate, underwater homeowner who no longer even lives there is stuck with the bill.

If you’re battling foreclosure in Miami or the surrounding areas, contact Jacobs Keeley for a confidential appointment to discuss your rights. Call (305) 358-7991.

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