On Thursday, May 2, 2013, Sheryl A. Edwards was featured on SNN Local News in a segment addressing Florida's foreclosure increase. The news anchor discussed how the American dream of owning a home has become a nightmare for a significant number of people, especially those living in the Sun Coast. SNN Local News reported that Sarasota County has some of the highest rates of people losing their homes in the nation.
The foreclosure list is a list that Floridians would rather not be on, that list is the skyrocketing number of foreclosures. According the SNN Local News, even though the mortgage crisis is in full swing, there are some steps that homeowners can take to help avoid the pitfalls of the economy and the real estate market.
One realtor featured on the segment compared losing one's home to having a death in the family. The realtor mentioned how we're seeing this crisis hit all economic walks of life. SNN Local News reported that according to the Realty Trac website, which records foreclosures, Florida posted the nation's highest rate of people losing their homes to foreclosure and some contend there is no sign of the trend slowing down.
Our very own attorney Sheryl Edwards was sought after by SNN Local News to provide legal commentary on the Sun Coast's foreclosure crisis. She said that the way trials are set on trial day is that the oldest cases go first. She mentioned how one foreclosure case she had in court was filed in June of 2009 and they were 50th out of 110 cases. In reference to those facing the possibility of foreclosure, with some planning now, it can help take the sting out of the mortgage meltdown. "I would say take control of your situation, be proactive because the worst thing someone can do when they're behind in their mortgage is nothing," said Sheryl Edwards, a Sarasota Foreclosure attorney. To watch the entire segment on the foreclosure increase, click here.