Florida foreclosure inventory drops, but state still leads nation in defaulted homes

Florida remains the foreclosure capital of the U.S., the Miami Herald reported. 95,177 foreclosures were processed in the last year in the state, according to numbers from CoreLogic.

And the trend is set to continue — 9.9 percent of the mortgaged homes in Florida are in some stage of the foreclosure process, giving Florida the highest foreclosure inventory of any state, the Herald said. But things will eventually improve, it seems. Florida’s foreclosure inventory dropped 2.4 percentage points in February year-over-year, the report shows.

“Even the major Florida markets are benefiting, with the foreclosure inventories falling the fastest in major metropolitan areas, although from a very high level,’’ CoreLogic chief economist Mark Fleming said in a statement to the paper. [Miami Herald] –Guelda Voien