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Florida still leading the way in foreclosures nationwide

Although the economy continues to make some small gains, there are still many sectors that are struggling to improve. One of the hardest hit sectors of the country’s economic struggles has been the housing market. Florida has been one of the hardest hit regions, with many areas of the state, including Tampa, still trying to recover. Although there has been some recent good news regarding foreclosures, Florida is still seeing its share of difficulties.

According to the latest report from RealtyTrac, the country has seen a big decline recently in the number of foreclosures being filed. In fact, with a total of 112,498 filings, February saw the fewest foreclosures since December of 2006. However, despite the good new for most of the country, some states are still seeing a higher rate of foreclosures.

 

Florida still has the highest foreclosure level in the country, as one out of every 372 housing units saw a foreclosure filing in the month of February. Several large regions of the state also topped RealtyTrac’s list of worst foreclosure rates. Nine out of the top 10 cities on the list are from Florida, including Tampa at number two, Jacksonville at number three and Miami at number 4.

When a person is faced with the possibility of a foreclosure he or she probably has many questions and concerns, not the least of which is “how long before I have to leave my home?” There’s no doubt foreclosure is a tough situation to be in, which is why seeking the help of an experienced foreclosure attorney is probably a good idea for anyone in this situation.

Source: Forbes, “Foreclosures hot lowest level since 2006, says RealtyTrac,” Erin Carlyle, Mar. 13, 2014

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