Courts See Fewer Foreclosures as Borrowers Seek Legal Counsel

By Kyle Chezum Updated on 11/2/2010

11/02/2010

Chief Judge Victor Tobin of Florida has seen daily foreclosure cases drop from 200 to 50 in the past month, and cases that are filed include additional protective legal clauses.  Media hype surrounding suspected foreclosure fraud has inspired more and more consumers to contest foreclosures.  Many homeowners are even obtaining legal counsel.

In Lee County, Florida, foreclosure filings have decreased by almost half since September, and hundreds pending have been canceled.  It's the banks that are doing it.  J.P. Morgan plans to refile 115,000 files and has halted foreclosures in most states.  Bank of America has taken similar action.

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