The Real Deal Miami

State CFO: Mortgage mess to continue

June 09, 2008 01:17PM

Florida Chief Financial Officer Alex Sink said Friday that the end of the mortgage crisis is nowhere in sight. She said many experts predict that foreclosures will continue to rise sharply through August and September. Florida had the fourth-highest rate of foreclosures activity in the U.S. in April, showing a nearly 150 percent increase from the same period a year ago. There were 35,264 properties in some state of foreclosure, according to RealtyTrac, or one for every 242 properties. April’s numbers were nearly 17 percent higher than March’s and 146 percent greater than April 2007.