Even lawyers are not safe from the housing market crisis as proven by Attorney Jose Baez. The well known lawyer's home in Osceola County is currently one of the properties under the area's list of distressed homes after LaSalle Bank N.A. filed a foreclosure case against the legal practitioner.
Like most areas of the U.S., Kissimmee foreclosure investing is suffering from high numbers of foreclosed properties that are causing home values to drop. This problem has affected all income level residents, including ordinary families, rich businessmen and professionals like lawyers and doctors.
Despite the setback, Baez is confident that he will be able to work with his lender to come up with an agreement that will prevent his property from becoming one of the many Florida foreclosure homes for sale. He also stated that his personal homeownership issue has nothing to do with his law practice and will have no effect whatsoever on the current murder case he is handling.
People familiar with the process of how to buy homes for sale, including foreclosed dwellings, are most likely aware that getting a foreclosure notice does not necessarily lead to the property getting auctioned off. In his claim that his personal financial issue has nothing to do with his case, Baez was absolutely spot on as the status of his home will not really have any bearing on the case he is working on.
The list of distressed homes in most areas of the U.S. usually comprises varying home types and different income level owners. A lawyer facing a foreclosure is not new anymore as the housing crisis has moved from low income to mid-income homeowners and is now affecting even high-earning individuals and families.
Baez did admit that his property is facing foreclosure, a claim that was confirmed by the online records of the county. The foreclosure reportedly involves around $250,000 and the complaint from the bank was filed on May 12.
Online records also showed that the home was bought three years ago. Prior to being included in the list of distressed homes, the home had a taxable value of over $340,000. Like Baez, most local housing market observers believe that the lawyer will be able to come up with a reasonable agreement with this bank to stave off foreclosure.
John Cutts has been educated in the finer points of the foreclosure market over 5 years.
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