FL ranks 2nd for foreclosure filings - Fox29 WFLX TV, West Palm Beach, FL-news & weather

FL ranks 2nd for foreclosure filings

By Linsday Cohen email
Posted by Rachel Leigh email

WEST PALM BEACH, FL (WFLX) - New foreclosure numbers are out Thursday morning. The bottom line: Florida ranks second in the nation for filings.

Nationally, numbers of foreclosure notices in September did dip from a record high in August. But the're still way up from the same time last year.

The dip in the numbers is, of course, the good news. But looking at the overall picture, you may find a reflebs of what is going on with the nation's economy.

Those numbers now show one in every 475 homes in the United States received a foreclosure filing in the month of September alone. That is a 21 percent increase over September 2007.

The numbers are from the folks over at RealtyTrac which is based in Irvine, California, and they tell us it does not look good for the state of Florida.

We now rank second in the country when it comes to foreclosure filings. That is up from third place, and, just behind the number one state, Nevada.

RealtyTrac says one in every 178 homes in the Sunshine State received a foreclosure filing last month. They say 44 percent increase from this time last year.

Breaking it down by metropolitan area, South Florida's big three areas all rank in the top 20. Fort Lauderdale is fifth in the country in foreclosure filings, Miami is number 13, and Palm Beach comes in at number 19.

You may be wondering what other states are hurting when it comes to these filings. Nevada ranks number one, followed by the state of Florida, and rounding out the top five are California, Arizona and Georgia.

There is some good news in all of this nationally. Foreclosures are down about 12 percent from the month of August. RealtyTrac attributes this to changes in state laws, especially California, where a new state law slows the pace at which lenders are moving forward with foreclosures.

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