It’s obvious that foreclosure filings are up. Our phones are ringing.
In Lee County, foreclosure filings are double what they were a year ago. The big question is: Are these new foreclosures or are they re-filings of cases that were dismissed a year or two ago?
In our office, we have not seen many re-filings yet. Additionally, out of the cases we are seeing, only a very small percentage had a prior foreclosure. So, using our cases as a sample, it appears that more people than even I thought are having difficulty paying. Everyone I speak with is still in the process of attempting to modify their mortgage. It seems that mortgage companies have come up with more gimmicks and tricks. They keep dangling carrots in front of people, while in the background they are cranking up the foreclosure machine.
And so, we put our litigation battle gear on and get back to work.