There is both good and bad foreclosure news for Floridians. The good news? Nationally, the number of foreclosures has been steadily declining. According to a report released by CoreLogic, a mortgage-tracking firm, the number of foreclosures nationally in November 2012 had dropped 23 percent from the same time in 2011. The bad news?
According to a study conducted by Realty Trac, the number of filings in Florida has actually increased by 20 percent over the previous year. In fact, beginning in November, Florida led the United States for three straight months in foreclosure activity.
One of the worst areas for foreclosures, according to Realty Trac, is the Miami and Fort Lauderdale metropolitan area. Approximately one out of every 260 residences in this area is being affected by some sort of foreclosure activity, such as a bank repossession or a default notice. For the entire state of Florida, the number is closer to one in every 304, which is almost twice the national average.
These grim numbers are backed up by rankings that were recently put out by the Center for Housing Policy, which showed that of the 13 metropolitan areas with the highest percentages of residences entangled in foreclosure proceedings, all but one are located in Florida. The lone non-Florida metro area was located in New Jersey.
If you, unfortunately, own one of the homes that are in danger of being foreclosed on in Florida, then you should consult an experienced lawyer like Boca Raton foreclosure attorney Kristin Coomber, P.A. to protect your property and your rights. Having a skilled real estate attorney on your side could prevent you from becoming just another grim foreclosure statistic.
Image, “Sign Of The Times – Foreclosure” appears courtesy of Flickr user, JefferyTurner under the Attribution 2.0 Generic license.