Closing the Gap Between a Foreclosure Commitment and Foreclosure Court Action

The dynamically evolving nature of the real estate industry is always impacted by foreclosures. Due to federal and state level moratoria in place to assist distressed homeowners during the pandemic, there was a significant decrease in foreclosures in Florida and throughout the country. As we approach a return to normalcy, we expect to see mortgage foreclosures and other small-lien foreclosures rise to pre-pandemic levels. According to an early 2022 study completed by a real estate analyst company, the state with the highest number of foreclosures was California, with Florida tailgating behind and taking second place. Now more than ever, it is important to understand the foreclosure process and how that affects the foreclosure commitment. 

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