The Real Deal Miami

Foreclosure rampage slows in 2010

February 10, 2010 03:19PM

The spiral of foreclosures appears to be slowing in South Florida as federal
mortgage assistance programs offer some relief to beleaguered
homeowners. Regional foreclosure actions in January 2010 dropped by 7 percent from
a year ago, according to Condo Vultures, as total filings in the tri-county area went below 5,800 from
about 6,200 in January 2009. Still, the region is on pace for 69,000 foreclosures for
2010, though that figure might offer little accuracy as a gauge for the full year.
The January 2009 figure put the region on pace for 74,000
filings. The year ended with 97,000 foreclosure actions.
[Condo Vultures]