Bank repossessions hit 39-month high

Banks repossessed 9200 properties in South Florida in the first quarter of 2010, according to a report by Bal Harbour-based Condo Vultures. The number represented a 25 percent increase over the same period in 2009. The 3,707 repossessions in the tri-county area in March was a new record since the company began tracking the data 39 months ago. There were 2,900 repossessions in February and 2,475 in January. TRD