Home Foreclosures Spike 28% over 2011

Home foreclosures are up 28% in January 2012 over last year, according to Lender Processing Services.

Fort Lauderdale area homeowners who are at risk of default on their mortgage or already in foreclosure should be aware that banks and other U.S. lenders will be moving faster to resolve foreclosures this year.

The U.S. reached a $25 billion settlement with Ally Financial Inc., Bank of America Corp., Citigroup Inc., J.P. Morgan Chase & Co. and Wells Fargo & Co. in February. Now that claims of foreclosure process flaws and allegations of “robo-signing” are behind them, banks are trying to clear up their backlog of foreclosures.

Florida leads the nation in mortgages that are “underwater” by at least 25 percent, according to RealtyTrac.

If you are one of the more than 2.5 million homeowners in Florida whose mortgage is more than 25% underwater, contact Fort Lauderdale mortgage foreclosure attorney Marcy Resnik to discuss how you can defend your legal rights in a foreclosure. You can contact her online or call her at 954-321-0176.