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Foreclosure Rate up 81% in last year


January 15, 2009
Topic: Bankruptcy

The foreclosure rate in the United States, already at a record rate last year climbed another 81 % in 2008.  For a full discussion of the issue, please see this article in Jacksonville's Florida Times Union.  Many of our bankruptcy clients contact us because of a pending foreclosure or threat of foreclosure.  There are many more options available to client's who file bankrutpcy before the foreclosure process starts than after the suit has begun if the goal of the client is to keep their house. 

However, for those who do not wish to keep the house, a Chapter 7 is still an option to discharge the dificency that may result from a foreclosure on a house.  This is particularly true for those who owe more on their house than the house is worth. 

Our bankruptcy clients in Jacksonville, Orange Park, St. Augustine, and throughout Florida will have literally millions in debt discharged this year through the bankruptcy process.  Not all persons qualify, so please contact us to see if we can help you at Arnold and New.  Give one of our attorneys a call today. 


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