The Real Deal Miami

Florida’s foreclosure rate still nation’s highest

March 15, 2013 12:00PM

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Florida has the highest foreclosure rate in the nation

Florida, home to the most spots of any state in Coed Magazine’s recent list of “15 Trashiest Spring Break Destinations,” can claim another dubious prize: nation’s highest foreclosure rate, the Sun Sentinel reported. The Sunshine State nabbed the top spot for the sixth consecutive month, per a report from foreclosure data service RealtyTrac, the paper said.

The South Florida region, which includes Palm Beach, Broward and Miami-Dade counties, also had the highest foreclosure rate among U.S. metro areas. In Palm Beach County, foreclosure filings rose 58 percent year-over-year in February.

“Florida is still playing catch-up with delayed foreclosures,” Daren Blomquist, a spokesman for RealtyTrac, told the Sentinel. In recent years, banks had delayed foreclosure proceedings due to the so-called “robo-signing” scandal and the anticipated settlement between mortgage servicers and the states. In February, a $26 billion settlement between numerous state attorneys general and the country’s five largest mortgage servicers was reached, and a spate of foreclosures, in Florida and elsewhere, has followed. [Sun Sentinel] –Guelda Voien

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