The number of foreclosures in South Florida year-to-date increased to 88,923 from 69,114 at the same point last year, according to data from Condo Vultures Realty. For this week alone, the number dropped to 1,776 from 2,124 in the same week last year. The graph below shows foreclosure activity in South Florida’s three counties. TRD
Condo Vultures Realty compiles foreclosure data using information collected from the respective county clerk of the court by a third-party service. The reported time period is adjusted to reflect the comparable week from the previous year. The year-to-date number reflects the cumulative total of foreclosure filings for the year, as of the week noted.
November 23, 2009 at 10:47 pm, Florida Homeowner, sort of . . said:
If the banks would get a little smarter in the way they are handling their workouts it would make some sense. They take one formula and apply it to everyone. I was out of work, am now working and have an income of close to 10k a month. I tried to do a loan modification but they want my housing expense to not exceed 31%. If I only made 3-4k a month that makes sense. But, I have practically no other debt other than living expenses and I supposedly do not qualify to pay a 3k a month housing expense. My ratio is off 2%. Even though I have roughly 5k a month free and clear. They wonder why they have so many foreclosures. One of the reps told me practically no one qualifies for the government loan modification. ‘Oh, we rarely have anyone that qualifies for that.’ What a surprise. Stupid nonsense.