Foreclosures on the Rise in Florida: An Expert's Guide

The foreclosure rate in Florida is one of the highest in the country, with one in 560 homes facing foreclosure. This rate has been consistently high since the end of the moratorium, and in October and December of last year, Florida was reported to have the second highest foreclosure rate in the country. According to an ATTOM Data Solutions report released on Thursday, there were 25,833 U. S.

properties with foreclosure requests, default notices, scheduled auctions, or bank embargoes - 11% more than a month ago and 129% more than a year ago. In Florida, where housing costs and inflation are the most important, 1,527 foreclosures have begun. The study highlighted Lakeland, where approximately one in 2000 homes was in foreclosure - the fourth highest proportion, or foreclosure rate, in the country. The ATTOM study indicates that while foreclosures increased across the country last month compared to last year, they continued to fall significantly compared to January. Analysts believe this could be a gradual return to normal levels of mortgage activity after two years of artificially low numbers due to efforts by the government and the real estate industry to protect financially struggling homeowners from bankruptcy.

With a total of 2,530,844 housing units, of which 775 housing units were foreclosed, the state's foreclosure rate was one for every 3,266 households. In Beehive State, 206 homes were foreclosed out of a total of 1,151,414 housing units - one out of every 5,589 households - making it the thirtieth highest foreclosure rate in the country. In Arizona, 489 foreclosures out of a total of 3,082,000 housing units were reported - one out of every 6,313 households - while in Rhode Island 91 homes were foreclosed out of a total of 483,474 housing units - one out of every 5,313 households. In Wisconsin there were 2,530 foreclosures out of a total of 2,727,726 housing units - one out of every 9,123 households - while Wyoming had 231 housing units in foreclosure out of a total of 1,275,689 homes - one out of every 5,522 households. It is natural to wonder if you should start exploring foreclosures and tax deed auctions in Florida.

Many county court clerks' websites offer an online tool where you can view all the foreclosures that are going to be auctioned. Buying a home in Florida before foreclosure means the period of time between the landlord receiving a notice of default (NOD) and the foreclosure of the property. This provides investors with plenty of opportunities to buy directly from a homeowner during the pre-foreclosure stage. The high foreclosure rate in Florida is concerning for homeowners and investors alike. It is important to understand why Florida homeowners seem to be at greater risk of foreclosure than others and what steps can be taken to protect them from bankruptcy.

Whichever path you take to buy foreclosure in Florida, you'll need quick access to financing to pay for the transaction.

Lana Tasma
Lana Tasma

Hardcore social media practitioner. Freelance music guru. Total coffee fanatic. Devoted food trailblazer. Infuriatingly humble tv maven. Professional food advocate.

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