Florida is again leading the nation for the number of foreclosures. Sadly, for homeowners who are receiving foreclosure notices, this fact is probably not really news. In fact, a foreclosure was filed on one out of every 400 homes in the state last month. The report from RealtyTrac might be just what some homeowners need to remind them that they aren’t alone when they go through a foreclosure.
When you consider the large metro areas of the country, which is classified as metros with at least 200,000 people, Florida dominated the foreclosure list. Orlando, metro Tampa, the Space Coast area, South Florida, the Daytona Beach area, Jacksonville, metro Sarasota and Lakeland were all in the top 10 cities with foreclosures. When you consider the top 20 on the list, Florida had 20 metros on the list.
While the state did top the list for the number of foreclosures in April, there is a little silver lining to the story. The number of foreclosures for April of this year was a little lower than April of last year. The number is also down from the foreclosure rate in April of 2012 by 9 percent. That shows that the number of desperate homeowners who are facing foreclosures is trending downward overall.
Anyone who is facing a foreclosure in Florida might have legal options, such as bankruptcy or mortgage modification, to help stop foreclosure. Knowing your rights and learning about every option you have available might help you to make an informed choice about how to fight the foreclosure on your home.
Source: WTSP.com, “Florida led nation in foreclosures in April” No author given, May. 19, 2014