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82 Alabama RANK: 31 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate MARCH 2015 3.09% 1.04% 5.7 YEAR AGO 3.56% 1.22% 7.2 YEAR-OVER-YEAR CHANGE -13.1% -14.6% -1.5 Top County MACON COUNTY 90+ Day Foreclosure Delinquency Rate Rate MARCH 2015 5.21% 2.13% YEAR AGO 5.04% 2.79% YEAR-OVER-YEAR CHANGE 3.5% -23.7% Top Core-Based Statistical Area 90+ Day Foreclosure Delinquency Rate Rate MARCH 2015 2.59% 1.74% YEAR AGO 3.45% 1.78% YEAR-OVER-YEAR CHANGE -25.0% -2.0% MOBILE, AL note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the March 2015 foreclosure rate. All fi gures are rounded to the nearest decimal. The unemployment rate refl ects preliminary March 2015 fi gures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. Arkansas RANK: 25 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate MARCH 2015 2.79% 1.42% 5.6 YEAR AGO 3.38% 1.59% 6.4 YEAR-OVER-YEAR CHANGE -17.6% -10.6% -0.8 Top County ARKANSAS COUNTY 90+ Day Foreclosure Delinquency Rate Rate MARCH 2015 6.26% 3.22% YEAR AGO 7.68% 1.56% YEAR-OVER-YEAR CHANGE -18.4% 106.4% Top Core-Based Statistical Area BLYTHEVILLE, AR 90+ Day Foreclosure Delinquency Rate Rate MARCH 2015 4.59% 3.20% YEAR AGO 4.57% 2.85% YEAR-OVER-YEAR CHANGE 0.6% 12.2% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the March 2015 foreclosure rate. All fi gures are rounded to the nearest decimal. The unemployment rate refl ects preliminary March 2015 fi gures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. Florida RANK: 4 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate MARCH 2015 2.60% 3.22% 5.7 YEAR AGO 3.04% 6.05% 6.5 YEAR-OVER-YEAR CHANGE -14.5% -46.8% -0.8 Top County WASHINGTON COUNTY 90+ Day Foreclosure Delinquency Rate Rate MARCH 2015 3.51% 7.06% YEAR AGO 3.68% 11.04% YEAR-OVER-YEAR CHANGE -4.7% -36.1% Top Core-Based Statistical Area WAUCHULA, FL 90+ Day Foreclosure Delinquency Rate Rate MARCH 2015 4.33% 6.91% YEAR AGO 3.36% 8.81% YEAR-OVER-YEAR CHANGE 29.1% -21.6% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the March 2015 foreclosure rate. All fi gures are rounded to the nearest decimal. The unemployment rate refl ects preliminary March 2015 fi gures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. Florida Adriana M Montes, MBA Florida Dreams Realty Group adriana@FloridaDreamsRealty.com Cell 321 689 6258 www.fl oridadreamsrealty.com MEMBER regarding their real property, which includes (i) redeeming the property, (ii) reaffirming the debt associated with the property, or (iii) surrendering property to secured creditors. A troubling pattern that is receiving the atten- tion of bankruptcy judges in Florida involves cases where debtors surrender property as part of their bankruptcy relief, only to then vigorously defend the state court foreclosure action, contrary to their stated intentions. Bankruptcy judges in Florida are requir- ing debtors to abide by their bankruptcy statement of intention or be subject to serious repercussions. All bankruptcy petitions are filed under penalty of perjury. In a Chapter 7 case, which is also known as the "liquidation" chapter, Section 521 of the Bankruptcy Code requires debtors to file a Statement of Intention as part of their bankruptcy petition. rough the Statement of Intention, debtors announce whether they will (i) redeem a debt with their lender, (ii) reaffirm a debt with their lender, or (iii) surrender encumbered collateral to the secured creditor. Debtors have the ability to declare their intent to surrender real property to a secured creditor and receive a discharge from personal liability in consideration of this election. However, the trend, which has raised concern with the bankruptcy courts, involves debtors who secure their discharge from the debt only to retain possession of the real property and vigorously defend the state court foreclosure action. Having observed this disturbing trend, many bankruptcy judges in Florida recognize this conduct is contrary to the intent of the Bankruptcy Code and have taken steps to put an end to this conduct. Creditors are now successfully reopening closed bankruptcy cases and filing Motions to Compel Sur- render of Property for failure to comply with Section 521 of the Bankruptcy Code and the Statement of Intention. ese proceedings bring debtors before the bankruptcy courts to address conduct that is in contradiction with their declaration to surrender collateral. Florida bankruptcy courts have examined what the Bankruptcy Code requires of these debtors who receive a discharge of debt, based on their sworn representation of an intent to surrender collateral. ese questions were resolved in part by the 11th Circuit Court of Appeals in the case of In re Taylor. e 11th Circuit Court of Appeals has stated that a debtor is not permitted to retain collateral unless they reaffirm or redeem the debt encumbering the collateral. is holding stemmed from the 11th Circuit's determina- tion to remove the "ride-through" option IN THE NEWS In Florida Bankruptcy Courts, Surrender Means Surrender By Roy Diaz and Adam Diaz e Federal Bankruptcy Code provides debtors with relief from financial hard- ship and the ability to enjoy a "fresh start" from debt. Debtors have a variety of options