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Bankruptcy Lanigan & Lanigan, P.L.
831 W. Morse Blvd., Winter Park, Florida 32789


E-Mail Eric A. Lanigan HereE-Mail Roddy B. Lanigan Here
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mortgage workouts

Under Water Florida Homes Drive Foreclosures

Under water Florida homes drive foreclosures and Orlando has 4 times national average in under water homes. With one in every 289 homes under water–the value of the home is less than is what is owed the lender–Orlando leads the nation by not being twice or even three times the national average, but four times the national average, according to RealtyTrac.

As Property Values Fall Under Water Florida Homes Drive Foreclosures

RealtyTrac showed that if an address falls within any of the following ZIP codes, your house is very likely sinking in value. These are the top five ZIP codes in Orlando with the highest rates of homes under water.

328201 in every 150

328241 in every 172 

328321 in every 177 

328081 in every 180

328091 in every 213

When You Don’t Want to Be #1

With the foreclosure rates in Florida being so high, there are sure to be many changes in forthcoming legislation. The re-launching of The Hardest Hit program for instance added to what is already a maze of policymaking.

An attorney experienced in foreclosure having practiced Florida law since 1976, Eric Lanigan, whose offices are located in Winter Park, Florida, can help navigate that maze.

Florida has become encumbered by policymakers, changing legislation, and being number one in foreclosures comes with consequences for the state. Most courts are overwhelmed with the number of lawsuits which take up to two and three years if not more. There are even more lawsuits waiting in the wings, waiting to be filed, that haven’t even entered the court system. Because of that backlog, the likelihood of a speedy conclusion to your particular foreclosure drifts further away into the mists without an attorney who knows how to aggressively find a way through the foreclosure fog.

Eric and Roddy Lanigan will get to work immediately on your foreclosure situation. 

Home Sinking Under Water?

For the past seven months Florida has been sludging through the mud of the court system and its hoops. There are calls to speed the process, provide a fast track and throw a rope to Floridians with underwater mortgages. Chances are low in getting all the politicians and policymakers to create a consensus and sign it into law would take time.

A June 2013 foreclosure law shortening the time it takes for your foreclosure to come to a reasonable and relatively stress-free conclusion is in effect. But for those people who are in the midst of trying to get things done on their own without an attorney are frustrated.

It’s getting more difficult to imagine an end to mortgage and financial issues, when, without the help of an attorney, everyday foreclosure lawsuits drift aimlessly through the court system. Don’t wait for things to happen; hire an attorney to resolve the issues that are happening to you, now.

A Legal Lifeboat if You’re Sinking

You would not hike the treacherous slope of Mount Everest without a guide. You would not navigate the perilous currents of the Rocky Mountain rivers without an experienced leader. You would not strap yourself into a plane to fly over the Himalayas without an experienced pilot. So why would you take on the godzilla of foreclosure law that exists in the Florida court system without an experienced, knowledgeable guide that will fight for your place at the head of the line when coming to a foreclosure settlement. 

According to RealtyTrac, a real estate data site tracking the nation’s pertinent housing trends, Florida is number one in foreclosures.

Top 5 Foreclosure States in U.S. 

Florida1 in every 400

Maryland1 in every 624

Delaware1 in every 657

1 in every 681

New Jersey1 in every 700

What is equally alarming is the report that Florida also wins the prize in cities with particularly high numbers of foreclosures. With 11 out of 20 of metropolitan areas with the highest foreclosure rates being located in Florida, the foreclosure crisis in Florida that began in last decade appears to be more dire than previously expected.

RealtyTrac also reports, that in April, the number of properties that received a foreclosure filing in Orlando, FL was 30% higher than the previous month and 2% higher than the same time last year. Home sales for March 2014 were down 5% compared with the previous month, and down 18% compared with a year ago.

Don’t slip further and further under water.  Find out what can be done in your particular situation by consulting with Eric Lanigan and Roddy Lanigan at their offices in Winter Park. 

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