Article Courtesy of The Miami
Herald
By Martha Brannigan
Published
October 10, 2013
Even
as Florida’s housing market is showing solid recovery with impressive
gains in prices and sales volume, the state led the nation in foreclosures
completed in the year ended in August; no other state was even close,
according to CoreLogic.
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Of
the 658,463 foreclosures completed nationwide during the
12-month period, 111,000 of them, or nearly 17 percent,
were in Florida, according to the Irvine, Calif.-based
data firm.
Michigan
ranked No. 2, with the completion of 60,000 foreclosures,
and No. 3 California wrapped up 58,000 proceedings during
the period.
The
top five foreclosure states — which included No. 4
Texas, with 43,000 foreclosures finalized, and No. 5
Georgia, where 40,000 were finished — accounted for
almost half of all foreclosures completed nationwide.
And
although Florida cleaned out more foreclosures than any
other state, it still has the highest inventory of
foreclosures, Corelogic said. The firm said 7.9 percent of
mortgaged homes in Florida were in some stage of
foreclosure in August. New Jersey ranked second among the
states, with 6.2 percent of all its mortgaged residences
in foreclosure. New York had 4.9 percent; Maine, 4.0
percent; and Connecticut, 3.9 percent.
Florida
also had the highest rate of seriously delinquent
mortgages in August with 12.4 percent of its mortgages
past due for 90 days or more. That was more than twice the
national
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Even
as Florida’s housing market is showing solid recovery with
impressive gains in prices and sales volume, the state led the
nation in foreclosures completed in the year ended in August; no
other state was even close, according to CoreLogic.
|
delinquency
rate of 5.3 percent of loans, Corelogic said.
