Bankruptcy And Florida: Foreclosures are Thru the Roof
According to a recent report by Foreclosure.com, Florida is at the top of the statistical ladder when it comes to foreclosure cases for the month of November. Obviously, this is not good news for the people of Southwest Florida. Unless you have been living under a rock for the past year, the economy down here is terrible, and it seems to be getting worse on a daily basis. I know the word recession is an unpopular term in the mainstream media, but I think we are in a recession and very close to a depression.
Approximately 1.1million homes are gone into foreclosure this year so far. This statistic is only for foreclosure cases filed. I could not even begin to calculate the number of homes that late on their payments. For a more indepth analysis of the subprime mortgage meltdown, please visit: http://www.mortgagelawnetwork.com
The number of homes facing foreclosure is up 93% from last year. There are no numbers detailing how many homes are delinquent on their monthly obligations. The number would be shocking. However, the statistic that is more shocking to me is that we have more and more people losing their homes in the country, yet the Dow Jones is still above 13,000. I still cannot understand how this works. Maybe one day someone much smarter than I can explain how this can happen. Until then, hang onto your wallet.
