More foreclosures occurred last month in September in the Orlando area, the real estate research firm RealtyTrac reports. The increase was 183 homes in the four-county area around Orlando, for a total of 859 new foreclosures. It was unclear is this increase was triggered by a new Florida law that speeds up the process when the homeowners do not fight the foreclosure.

Overall, the state had more than 6,000 homes starting the foreclosure process in September, with metro Orlando and Lake County showing increases, while Seminole and Osceola counties had slight decreases. While 2013 has been up and down with foreclosures, the overall trend has been a decline of one third from 2012’s numbers.

These broader trends matter less to you if your home is one of the 6,000 that went into foreclosure. Foreclosure can be a complex process, just as the reasons behind your home falling into foreclosure can be equally complex, and it can help to speak with an attorney to obtain professional advice on the legal or economic strategy that makes the most sense for your circumstance.

You have to determine if you want to attempt to fight the foreclosure. In some cases, especially if the value of your property is significantly below your loan balance, it may not make economic sense to remain in the property.

Now, you should consider if you could obtain a release from the bank for the deficiency balance that will remain after the bank forecloses and sells the property, or determine if a bankruptcy would be necessary to discharge this debt. Another possible solution would be if the bank would accept a short sale and if this would look better on your credit record.

Source: Orlando Sentinel, “First-time foreclosures rise in Orlando,” Mary Shanklin, October 10, 2013