The Real Deal Miami

South Florida foreclosures could double this year

January 19, 2009 04:13PM

South Florida foreclosure filings could increase up to 100 percent in 2009, depending on what action the federal government takes, said Jack McCabe, CEO of McCabe Research & Consulting in Deerfield Beach. McCabe said there could be 100,000 to 150,000 foreclosure filings in South Florida during 2009, because many existing mortgages are slated to reset their rates and payment options.