More people are losing their homes as Orlando metro area foreclosures continue to mount. In October, 4,363 properties received a foreclosure filing in October, a 36 percent increase compared with the previous month, according to new data released on Thursday by RealtyTrac.
There were 2,517 foreclosure properties in Orange County in October, or one in every 185 housing units with a foreclosure filing, an increase of 28 percent compared with September where one in 237 housing units had a foreclosure filing. Currently, there are 13,967 foreclosure filings in the county and 2,437 homes for sale, according to RealtyTrac.
In Osceola County, there were a total of 524 foreclosure properties in October, or one in 234 homes, up by 24 percent in comparison to the month of September, where one in 289 housing units received a foreclosing filing.
The smallest increase in foreclosure filings in the Orlando metro area was observed in Lake County where a total of 479 properties received a foreclosure notice in October. This compares with 427 in September, or one in 304 housing units, representing an increase of 12 percent.
Seminole County reversed its downward trend as 843 properties received a foreclosure filing, more than double the month of September. According to the data, one in 207 housing units now have a foreclosure filing compared with one in 443 in September 2011.
The rest of the state didn’t fare any better. In October, a sharp monthly increase in new default notices and scheduled auctions, pushed the foreclosure rate up by 28 percent from the previous month and a 12-month high.
A total of 15,235 new default notices were reported in Florida in October making the state the fourth highest among the states, up from the sixth highest in September. Scheduled auctions in Florida hit an 11-month high in October, with 10,655 reported during the month — up 57 percent from September, according to RealtyTrac.
