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No end in sight for foreclosure filings in Orlando, Florida, nation

Despite government efforts to slow the rate of new foreclosures, the number of homes in some stage of repossession in Metro Orlando, Florida and the nation continued to rise last month.

The four-county Metro Orlando area had 7,690 homes with a foreclosure filing, notice of foreclosure sale or repossession by a lender — more than twice as many as in February 2008, according to a report released today by RealtyTrac Inc.

Statewide, 46,391 homes were at some point in the foreclosure process during the month, up 43 percent. Florida had the nation's fourth-highest rate of foreclosures per housing unit, trailing only Nevada, Arizona and California.

Nationally, 290,631 properties had a default notice, auction-sale notice or bank repossession in February, up 30 percent from a year ago.  complete story

Source: Orlando Sentinel - Jerry W. Jackson

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Posted by Real Estate - Associates on March 27th, 2009 9:04 PMPost a Comment (0)

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