The Real Deal Miami

South Florida borrowers severely d

July 09, 2010 12:00PM

The area is on pace for 70,000 foreclosure actions this year

The number of borrowers in serious trouble is growing in South Florida,
according to analytics firm CoreLogic. While the courts are seeing a
lower rate of new foreclosure cases being filed in Broward and Palm
Beach counties, the loan numbers in three major metro areas in South
Florida are troubling. In West Palm Beach-Boca Raton-Boynton Beach, 20.3
percent of loans were 90 days or more past due in May. In the Fort
Lauderdale metro area, which includes Pompano Beach and Deerfield Beach,
that number was 22.8 percent, and in MiamiMiami Beach-Kendall, 28.2
percent of loans were 90 or more days past due, up from 20.7 percent in
May of last year. [Sun