Foreclosures can be very impactful on homeowners. Recently, the Orlando Business Journal reported on some statistics regarding foreclosure activity in the Orlando area in this year’s first quarter. The statistics are from the real estate information company, RealtyTrac. The statistics indicate that foreclosure activity is on the rise in the Orlando area.
According to the statistics, in 2012’s first quarter, 9,330 foreclosure filings were made in the Orlando metro area. This foreclosure filing total is 52.2 percent greater than the foreclosure filing total the Orlando metro area saw in 2011’s first quarter. Thus, the Orlando metro area saw a substantial year-over-year rise in foreclosure activity in this year’s first quarter. In fact, the increase the Orlando metro area saw reportedly is the largest year-over-year foreclosure filing increase any large metro area in the United States experienced in first quarter 2012.
Foreclosure filings were also up in the Orlando metro area on a quarter-to-quarter basis, with the area’s foreclosure filing total from first quarter 2012 being 7.8 percent higher than the area’s total from 2011’s fourth quarter.
The statistics also indicate that foreclosure activity in Orlando is high as compared to most other metro areas in the country. According to the statistics, when it comes to foreclosure activity, the Orlando metro area ranks 15th among large metro areas in the United States.
Thus, the statistics indicate that mortgage troubles and foreclosures continue to plague many homeowners in the Orlando metro area. One wonders what is behind the current increase in foreclosure activity in this area and what impacts this increase and its causes have had on homeowners in the area. One also wonders if this trend of increased foreclosure activity will continue in 2012’s next three quarters.
Source: Orlando Business Journal, “Metro Orlando notches 52% jump in 1Q foreclosures,” Anjali Fluker, April 26, 2012