Hot plans are afoot to solve the foreclosure problem in South Florida. The authorities in Broward and Palm Beach counties have been awarded $104 million to tackle the menace of vacant foreclosed houses and find new owners. The scenario in South Florida is grim – many are forfeiting their houses to foreclosure and do not [...]

Seventeen years ago Hurricane Andrew had hit Miami-Dade County. Today Hurricane Foreclosure is following it. The effect is the same – the flattening of the landscape. In some special zones like Homestead and Florida City, nearly 25% of the residential houses are in foreclosure. Many others that were being built by developers sit eerie and [...]

Charlie Crist, the governor of Florida, is working with bankers to put a moratorium on foreclosures at least during the Christmas and New Year holidays. He hopes that by the beginning of next month he will be able to make the moratorium announcement. Crist held the meeting with top banking officials, including the president of [...]

In Charlotte County foreclosures are increasing every month and the people are desperate for help. In 2007 there were 196 foreclosures – a rise of 68% from 2006 and 238% from 2004. The crisis is being fuelled by job losses, dwindling wages and family problems like divorce and illness. Localities are being affected in a [...]

Responding to the unprecedented foreclosure crisis federal funds have been sanctioned to give support to the counseling agencies. Florida will make use of $1.3 million for this purpose. The grant will be distributed among 50 counseling bodies. The Governor, Charlie Crist is said that this one simple step will go a long way in alleviating [...]