Foreclosures are on the rise in Florida: Tampa/St. Pete is up 75%; Orlando is up 198% and Jacksonville is up an astonishing 332%. While Tampa is the strongest real estate market of these other Florida metro areas, this uptick bears watching. Overall, I’d have to say as a foreclosure defense attorney that lenders appear to have corrected many of their ways regarding properly documenting a mortgage and its subsequent assignment. But lender practices are often still deficient. A foreclosure defense attorney just needs to be more diligent in representation to ensure our laws are followed.
A mechanism that was designed to prevent unnecessary foreclosures is found in FHA mortgages and is known as the face-to-face meeting requirement. FHA notes specifically limit acceleration of the debt and foreclosure only when permitted by HUD regulations.