Cape Coral-Fort Meyers has highest foreclosure rate in U.S.

The Cape Coral-Fort Meyers area showed the highest rate of foreclosure in the nation in January 2008 compared to January 2007, according to mortgage research firm RealtyTrac, with one in every 86 homes entering foreclosure. Florida’s rate of foreclosure increase was the highest in the country over this period, climbing 158 percent compared to an increase of 57 percent nationwide.