According to RealtyTrac, one of the leading sources for real property information, the Miami-Fort Lauderdale-Pompano Beach area had the third-highest foreclosure activity among large metro areas last month.
Of the 20 metro areas with the worst foreclosure rates, 11 are located in Florida. This should come as no surprise since the state leads the nation in foreclosure activity, even with a nine percent decrease from last year. RealtyTrac revealed that Florida’s foreclosure rate of 1 in every 400 residences being in foreclosure is almost three times the national average. In reviewing the foreclosure data, RealtyTrac considers default notices, scheduled auctions, and bank repossessions.
The metro area with the greatest number of foreclosures is Orlando. It had 1 in every 289 residences having some type of foreclosure filing in April. Deltona-Daytona Beach-Ormond Beach ranked second with 1 in every 306 residences having some type of foreclosure filing in April. The greater Miami area had 1 in every 345 residences in some form of foreclosure in April.
If you are facing overwhelming debt and the foreclosure of your home or investment property, it may be time to consider your bankruptcy options. Let us help you.
Please keep in mind that every bankruptcy matter is different. If you have questions about filing for bankruptcy protection and you would like to schedule a no-cost consultation, please contact our office by completing the form on this website or calling us at (954) 516-2566.