South Florida bank repossessions fell 8 percent in second quarter: report

Bank repossessions of South Florida properties fell 8 percent in the second quarter of 2012 compared to the same period in 2011, according to a report from Condo Vultures. There were less than 8,000 repossessions from April through June in the tri-county area, down from over 9,600 in the second quarter of 2011. “The decrease in bank repossessions follows an unofficial moratorium on foreclosure filings in South Florida resulting from the ‘robo-signer’ controversy that surfaced nationally in the autumn of 2010,” said Peter Zalewski, founder of Condo Vultures. “We would not be surprised if the total number of bank repossessions in South Florida continues to slow in future quarters following the prolonged foreclosure filing moratorium period that was finally resolved in the first quarter of 2012.” — Alexander Britell