It is strange that foreclosure homes in Clermont should haunt the affluent region of Orlando, Lake County in Florida state. But foreclosure homes in Clermont have become almost like an infectious fashion. It is unbelievable that foreclosures homes in Clermont, the largest city in Lake County should become a matter of concern. The beauty of Clermont is its traditional flavour – it is as it was half a century ago. Yet the modern virus is making foreclosure homes in Clermont a reality. The landmark of prosperous Clermont is the Florida Citrus Tower – standing tall and straight with foreclosure homes in Clermont wrecking havoc.
The prosperity has led to the luscious orange groves being replaced by subdivision. Economic growth that has brought in retails giants like Wal Mart, Target, Kohl’s and K-Mart. Some economists are critical that it is this prosperity that is behind rising number of foreclosure homes in Clermont. The sudden growth has been so rapid that schools today are overcrowded and pollution has increased affecting even the beautiful lakes of Clermont. The boom seems to be the perfect setting for the appearance of foreclosure homes in Clermont by the hundreds. Other analysts have pointed to the sub-prime mortgage targeting blacks and this has led to the increase of foreclosure homes in Clermont. But this argument does not hold water in Clermont because here nearly 84% of the population are whites, with only 12.08 % blacks. The average income of a Clermont household is $39,290.
There were 129 foreclosure homes in Clermont despite all these facts. Clermont is in Florida and this being so, it has to suffer from the fact that Florida ranks second in the race. The situation of foreclosures in Florida is grim – to say the least. The foreclosure homes in Clermont have to follow the laws of judicial foreclosure of the state. Non- judicial foreclosures are not available and the primary security instrument is the mortgage. The foreclosure homes in Clermont meet their fate in about 180 days. The right of redemption is operable here Thus all the foreclosure homes in Clermont does not necessarily land up in the auction room. Deficiency judgment is also allowed. If the foreclosure homes in Clermont are auctioned the court allows itself 10 days to review the sale to see that a fair price has been settled upon. The expenses of putting in insertions in the papers about foreclosure homes in Clermont lies with the lender.
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