Sun-Sentinel: Foreclosures Jump 77 % in Palm Beach County, Oppenheim Says Expensive Mortgages Going into Default More Frequently
The Sun Sentinel’s real estate writer Paul Owers noted RealtyTrac Inc report last Thursday that foreclosure filings spiked last month in Palm Beach County as a backlog of pending cases abruptly moved through the court system.
The county had 3,759 homeowners in some stage of foreclosure in July, up 77 percent from June and 42 percent from a year ago. Palm Beach County had the 11th-highest foreclosure rate of Florida’s 67 counties.
Foreclosure defense attorney and legal blogger Roy Oppenheim told the Sun Sentinel he is noticing expensive mortgages going into default more frequently.
“This is like the second shoe dropping,” he said. “A lot of people with higher incomes have been seriously, seriously hurt.”
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