Miami-Dade Foreclosure Crisis by the Numbers

by Isaac Benmergui, Esq on August 31, 2012

Thousands of foreclosures still loom on the books for Miami-Dade Circuit Judge Jennifer Bailey and the numbers don’t appear to be taking a nosedive anytime soon. As the administrative judge for the civil circuit division, Judge Baily see countless foreclosure cases which has changed South Florida’s housing landscape. Due to the overwhelming burden foreclosures put on the judicial system, the court had to create a task force and the allocate extra funding to help cope with the mounds of cases and paperwork.

Judge Baily recently revealed some of the more surprising numbers behind the foreclosure crisis in the 11th Circuit Court’s jurisdiction:

  • In 2006, there were 9,800 foreclosures filed in South Florida;
  • Up until June 2012, there were more than 40,000 per year filed since 2006;
  • The total number of foreclosures filed since 2006 is 215,717;
  • In the last 2½ years, judges resolved more than 92,000 foreclosure cases
  • The current caseload is approximately 60,000 cases;
  • Judges’ caseloads tripled from 1,900 to roughly 7,000 active cases during the height of the foreclosure crisis in South Florida; at present each judge has about 5,000 active cases;
  • There are roughly 2,300 new foreclosure cases filed per month so far in 2012.

The court has received funding which will allow it to rehire a few retired judges and case managers to assist in speeding up the processing of foreclosure cases, but bringing the number of cases back down to pre-housing bust levels could take up to a year or more.

Getting Legal Help

If you are facing foreclosure, the law offices of Isaac Benmergui can help you with your legal real estate needs; call 780-800-2510 or email Isaac@benmerguilaw.com for more information or to set up an appointment today.

 

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