There appears to be some slight good news on the economic front in certain parts of the country especially when it comes to home foreclosure rates. While Florida homeowners may still be struggling, the rate of home foreclosure in Florida has dropped slightly. In fact, Florida has dropped from the number one state for home foreclosure to the number two spot, according to recent report.
The filing for foreclosure in Florida was down this year from the same point last year. The rate since July dropped 14 percent. The home foreclosure rate from a year ago dropped 15 percent. While Florida is now the number two state for home foreclosure, Nevada is now number one.
The rates for home foreclosure in Florida naturally vary from county to county. Of the 20 large metropolitan areas in Florida, Miami and Tampa were the highest two areas for home foreclosures. In Broward County and Miami-Dade County both saw a marked decrease in home foreclosure filings. However, auction notices and repossessions by the banks did rise in some areas.
The economy can be very unpredictable even as some indicators show a marked improvement over the onset of the recession. Despite any indicators, whether encouraging or not, each individual situation is unique and homeowners may need help for a variety of reasons. When it comes to home foreclosure options for Florida homeowners, the more information a homeowner has about different ways to avoid foreclosure and the possible consequences of home foreclosure, the better prepared that homeowner may be to handle the process.
Source: Miami Herald, Florida’s foreclosure rate drops to No. 2 behind Nevada, No author, Sept. 12, 2013