Of course, no one ever wants to experience a foreclosure. Not only are you losing ownership of the home you love, but your financial future will also be affected for many years to come. Although foreclosure rates across the country have been showing some positive signs, including in the Tampa area, the South Florida region is still facing more foreclosures than other areas.
When it comes to foreclosure rates in South Florida, there is good news and there is bad news. Even though rates are down, especially in January, South Florida continues to have some of the highest rates in the country. So, even though there were definite signs of improvement, Florida is still at the top of the list of foreclosures at 6.22 percent. The good news is that in January of 2013 the rates were 10.15 percent, which is a very encouraging sign.