Florida second in foreclosure rankings


It has been a tough year for the housing market and the economy. With many people losing their jobs and becoming laid off making ends meet is becoming tougher. And unfortunately, it can affect making the monthly mortgage payment. Many families have had to face foreclosure and losing their home. Some states have fared worse than others. A list was released of the states on the USA map with the most foreclosures.

Nevada is the only state ranked above the Sunshine state in foreclosures, as the state with the most foreclosures on the US map with one in every 68 homes filing a foreclosure.

The map of Florida is suffering from one in every 135 housing units going into foreclosure in the month of April alone.

According to an article from the Jacksonville Business Journal, the Florida map has seen a 75 percent increase in year-over-year foreclosures.

A report did find however that from March to April the Florida map has seen a 7 percent decrease in bank repossessions.

In April, in the entire country for the moth of April 1 in 374 homes units went into foreclosure.

The following quote is from the article to explain the situation.

“Much of this activity is at the initial stages of foreclosure – the default and auction stages – while bank repossessions, or REOs, were down on a monthly and annual basis to their lowest level since March 2008,” said RealtyTrac CEO James J. Saccacio, in a news release. “This suggests that many lenders and servicers are beginning foreclosure proceedings on delinquent loans that had been delayed by legislative and industry moratoria. It’s likely that we’ll see a corresponding spike in REOs as these loans move through the foreclosure process over the next few months.”

Hopefully the future will be brighter for the housing market.

Related posts:

  1. Geography Bluff Learns About Everglades with Map of Florida
  2. Miami, Florida a Good Place for LGBT Individuals to Enjoy the Sun
  3. NBC Today Show to Feature Changes Spa in Boca Raton, Florida… New FDA-approved Equipment



You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Leave a Reply