Florida Foreclosures Still High But in Decline

For Florida, it may be a turning point in the foreclosure rate and crisis. When compared year to year, the foreclosure rate in Florida is down nearly 37%. This makes it the lowest it has been since 2008. That equates to fewer than 4 million people who are not current on their mortgage. In Florida, 12% of homeowners with mortgages are not current on their payments. This ranks Florida the third out of fifty in the nation for most delinquent mortgages. These numbers reflect a twenty percent reduction in delinquency in the past six months, ranking Florida the second most improved. The number of properties with delinquent mortgages is at levels not seen since October 2007. And, new foreclosure filings are at their lowest since then as well. For the first time since 2008, prepayment rates have increased.

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