Kissimmee Foreclosure Filings on the Rise

  Kissimmee real estate saw a huge spike in foreclosure filings last month, showing that the halted foreclosures from “robo-signing” issues in late 2010 are finally coming to the forefront, showed a new report from Realty Trac.   In the month of January alone Lake, Orange, Osceola and Seminole  counties  reported a whopping  3,537 foreclosure filings, or one in every 266 households. That’s almost twice as many filings as there were in December 2011. That puts the Orlando area at No. 14 for the most foreclosures among the nation’s largest metro areas.
    That means that there will be a whole lot of people trying to do an Orlando short sale. Once the foreclosure proceedings begin, the homeowner needs to take action one way or the other. Although many homeowners will attempt a loan modification, most of them will come to the realization that their best option is to stop the foreclosure by doing a short sale on their Orlando home.
   Lake County was the only county to see a drop in foreclosure filings with a reported 362 filings last month, which was 10 percent less than the 403 posted in December 2011.


The other counties foreclosure count was as follows:
• Seminole reported 566 filings in January 2012, which was 97.9 percent more than the 286 reported in January 2011 and 45.8 percent up from the 388 posted in December 2011
• Osceola had 657 filings last month, 89.9 percent more than January 2011’s 346 and 76.6 percent up from December 2011’s 372
• Orange posted 1,952 filings, about 47 percent higher than January 2011’s 1,327 and 30.5 percent more than December 2011’s 1,496.


      Experts predict that more foreclosures were coming, once issues were resolved by banks, who in September 2010 halted thousands of filings when it discovered the automated steps used to repossess delinquent borrowers’ homes wasn’t being checked thoroughly.


      If you or someone you know is in Foreclosure, get advice from an Orlando Short sale Expert to find out what is the best plan of action for you to take.  Contact us to set up a Free consultation with one of our Orlando real estate experts.