Hiring an Orlando mortgage foreclosure defense attorney may be the smartest decision some Orlando homeowners make this year. Last week, the Orlando Sentinel reported that mortgage foreclosure filings increased in September by a whopping 42%, after banks flooded the courts with an additional 3,209 mortgage foreclosure lawsuits. The only good news to this statistic is that the number of filings is down from September 2010. That was when the number of foreclosure lawsuits in Orlando peaked just before mortgage defense attorneys exposed banks in the “robo-signing” scandal that forced many lenders to suspend their efforts on seizing homes. Now, the foreclosure mills are back with a fury. In addition to the increased number of Orlando mortgage foreclosure filings, a similar increase in number of initial default notices sent to Orlando homeowners suggests that this is the begnning of a new wave of mortgage foreclosure in Orlando.
The executive director of the prestigious American Bankruptcy Institute predicts that consumer bankruptcy filings will increase during 2011. In a press release issued on January 3, the executive director of ABI, Samuel J. Gerdano, states: “The steady climb of consumer filings notwithstanding the 2005 bankruptcy law restrictions demonstrate that families continue to turn to bankruptcy as a result of high debt burdens and stagnant income growth…We expect that consumer filings will continue to rise in 2011.”