Florida Leads Nation in Foreclosures in Third Quarter
An expected surge of foreclosures pushed Florida to the top of the heap during the third quarter as lenders resumed proceedings that had been stalled by robo-signings violations more than two years ago, according to data compiled by RealtyTrac, which monitors retail sales and foreclosures around the country.
For the quarter ending Sept. 30, one in every 117 Florida homes was in some sort of foreclosure action, more than double the national average. Florida also led the nation for foreclosures in September, the first time the state had claimed the dubious top spot since April 2005.
For the quarter, Florida’s foreclosure rate was up 14 percent from the same period last year. September’s foreclosure rate was 24 percent higher than a year ago, the 11th straight month of year-to-year increase, RealtyTrac reported Thursday.