July's Foreclosures Hit New High In Lee County
As a Bankruptcy Attorney, we are seeing more and more bankruptcy clients with foreclosure problems. According to a recent News-Press article, Lee County, Florida saw 2,467 foreclosures filed in July. We are able to strip off quite a few second mortgages in the Bankruptcy Court, but in some cases it doesn't even make sense to strip off the second mortgage because the client is still so far upside down on the first mortgage. We are in a constant state of flux in Lee County. It is very difficult to counsel clients on what to expect in this market or even to predict how long their foreclosure will take.
Although the Dellutri Law Group has offices in Port Charlotte, Fort Myers and Naples,and we are defending foreclosures in all three markets, we are witnessing a very unique and interesting real estate market in Lee County. Cases that should be in foreclosure, are not, and cases where the house is upside down 100K, the mortgage company is going like gangbusters in the foreclosure. There is really no rhyme or reason to the foreclosure market. The only thing certain is that Lee County will continue to be barraged with Foreclosure filings until something is done to stem the tsunami.
This post is submitted by Carmen Dellutri, Esq., Board Certified Consumer Bankruptcy Lawyer. Mr. Dellutri is one of the founding members of Bankruptcy Law Network, Mortgage Law Network, Credit Law Network, and Debt Law Network. Mr. Dellutri also writes for his firm's personal injury blog.
