WUFT News

Florida’s foreclosure rate remains nation’s highest

By on November 16th, 2012

While homes in other parts of the country are being foreclosed at a slower rate than last year, and fewer properties repossessed by lenders, Florida seems to be bucking that trend, according to new data.

A new report from foreclosure listing firm RealtyTrac Inc., shows Florida had the highest state foreclosure rate in the U.S. for the second consecutive month. One in every 312 Florida homes filed for foreclosure last month, which is twice the U.S. average.

Florida’s foreclosure filings increased 2 percent to 28,783 in October compared to September. However, October’s total was 13 percent below the October 2011 total.

In Alachua County, 237 properties had foreclosure filings in October, according to RealtyTrac’s Florida data. Marion County had 539 foreclosure properties. Citrus County racked up 235 claimed properties.

In 2011, lenders completed 800,000 foreclosures. This year’s data puts lenders on track to complete 650,000, the firm said.

Home sales are higher than in 2011, lifting home prices in many parts of the U.S., which can help homeowners lower monthly payments through refinancing. Stronger job growth across the country has also helped some homeowners avoid foreclosure. In many places, federal and state lawmakers have made efforts to slow down foreclosure rates or make loan modification for homeowners more likely.

Another factor for the slowdown in foreclosure activity may be a shrinking body of risky home loans made before 2008. Loans issued since then, after banks tightened lending standards, are more likely to be paid back.

Associated Press contributed to this report.


This entry was posted in Florida, National and tagged , , , . Bookmark the permalink.
 

More Stories in Florida

adfasdf11

Marion County Board Member Removed After Facebook Post

Marcel “Butch” Verrando, an appointee to the Industrial Development Authority, has been removed from the board after a racially-charged Facebook post. Verrando was removed after a regularly scheduled meeting on May 19.


Breaking News: Feds Say Florida Could Get $1B For Low Income Pool

A key Florida health care program will likely receive an extra $1B from the federal government this budget year. The new amount offered for the Low Income Pool would enable Florida to retain Medicaid investment.


Florida Tourism Reaches A Peak

Tourism in Florida is at an all-time high. The amount of visitors in the first quarter of 2015 is up 6 percent from the previous year.


Police: Man Told Officers ‘Go Ahead And Kill Me’ In Shootout

An 18-year-old man was shot and killed by St. Petersburg officers after he shot a man and then shot an officer in the leg. Austin Goodner had previously been arrested for aggravated battery.


First Magnitude is currently allowed to sell 128-ounce growlers (left) or 32-ounce growlers. But starting July 1, SB 186 will allow them to sell 64-ounce growlers.

Florida Governor Signs Growler Bill

Gov. Scott has signed a bill into law that will allow the sale of 64 ounce refillable bill containers known as growlers. This makes Florida the 48th state to allow this size growler to be sold.


Thank you for your support

WUFT depends on the support of our community — people like you — to help us continue to provide quality programming to North Central Florida.
Become a Sustainer
I want to support FM 89.1/NPR
I want to support Florida's 5/PBS
Donate a Vehicle
Underwriting Payments