"Foreclosure Prevention Rises 136 percent in Florida"
So said the press release.
Lenders say they are willing to work with troubled homeowners, but are they?
The release from Genworth Financial says that in the second quarter 276 Florida borrowers completed loan workouts a catchall word for deals in which terms of a troubled loan are changed so that the borrower can afford to repay it.
Great. It's not a big number, but it's something.
In June, almost 5,000 homes in Broward and Palm Beach were in some stage of foreclosure.
The 276 Florida buyers who Genworth Financial helped may have been the lucky ones.
Or may not.
The release says one in four in Florida who did get a workout lost their home anyway.