Broward County Foreclosure Rates Increase By 22%

America's Only Foreclosure Response Team Takes A Closer Look Into Broward County Foreclosures

Ft. Lauderdale, FL (prHWY.com) January 11, 2013 - Scott D. Coloney, President of the Foreclosure Response Team (FRT), has announced that foreclosure recordings are on the rise by 21.8% in Broward County and the crisis is affecting more than just the lower and middle class.


The latest news suggests that the economy is slowly recovering and the foreclosure crisis is over. It is in fact true that rental rates and home prices are both trending upward. The unspoken news is that foreclosure defaults are trending upward at a record pace as well. The foreclosure crisis is clearly not over in South Florida. Through our exclusive Simplor technology, we have uncovered that foreclosures are on the rise by approximately 22% in Broward County. The data shows that it is not just middle and lower classes that are eroding away, but this crisis is also effecting the wealthy. Many of these individuals are turning to strategic default as a solution. For example, Jevon Kearse, a former NFL football player with the Tennessee Titans had a foreclosure default recorded against him for his Pompano Beach residence last Monday, January 7th, 2013. Besides the rich and famous, there are close to 500 defaults recorded each day across Broward, Palm Beach and Dade Counties.


In 2011, according to public records there were 20,079 defaults filed in Broward County alone. In 2012, that number jumped to 24,467. A 22% increase from 2011 with an average of over 2,000 foreclosure recordings a month in 2012. This statistic overshadows every other statistic out there regarding real estate. This is a strong signal that the local economy is still facing major difficulties. According to Simplor data the foreclosure crisis is literally affecting citizens across all walks of life and the volume is slowly increasing.


About America's only Foreclosure Response Team and Simplor technology


Founded by Scott D. Coloney in May 2008, the Foreclosure Response Team is made up of a coalition of veteran real estate professionals in the areas of loss mitigation, sales, title, and legal representation. America's only Foreclosure Response Team serves as an invaluable resource for property owners, buyers, real estate agents, title companies, attorneys and mortgage servicers. The firm currently has a rapidly growing presence across the country including Florida, Michigan, Virginia, Maryland, Washington DC, California, Nevada, Arizona, Colorado, Texas, Ohio, Georgia, Alabama, New York, and New Jersey, areas. Simplor technology simplifies and organizes public default information as well as streamlines foreclosure alternative transactions such as loan modification, short sale and deed in Lieu in a massive effort to prevent foreclosure in America.

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Tag Words: short sale, foreclosure, default, broward, distressed

Categories: Real Estate

Press Release Contact
119 NW 2nd Avenue, Fort Lauderdale, Florida 33311. For more information call Scott D. Coloney at 954-760-4888 or visit www.ForeclosureResponseTeam.com

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