The face and shape of Florida foreclosure is changing by the day. The newest trend identified by Oppenheim Law is the idea of a strategic default, where homeowners who can afford to pay their mortgage are choosing to stop payments and voluntarily enter into foreclosure.
I discussed this Florida foreclosure defense strategy Wednesday night on CBS4 with local reporter David Sutta, and you can see the entire interview on the Oppenheim Law Home Page.
What’s so fascinating about strategic default is that it is spurred by the fact that the social stigma of foreclosure is now gone in many parts of the country, especially in Florida. So many people have been affected by foreclosure that the public is actually beginning to see it as a form of liberation from banks and mortgages that have homeowners owing sometimes double what their homes are actually worth.
As with any Florida foreclosure defense strategy, it is important that you understand your legal rights as a homeowner and can protect yourself during the process. Feel free to contact me if you have any questions regarding strategic defaults or Florida foreclosure defense.
You can find Wednesday night’s video and many more on Florida foreclosure and South Florida real estate through the Oppenheim Law You Tube Channel: http://www.youtube.com/user/OppenheimRoy