Lisa Simpson
Jul 22,2008
In: Foreclosed Homes

Florida Foreclosed Homes

Florida meaning ‘Flowery Easter’ in Spanish is the Sunshine State of USA. But today dark clouds of Florida foreclosed homes are hanging over this paradise on earth. Florida lies to the south east of the country bordering Alabama and Georgia. It is a long peninsula jutting into the Gulf of Mexico and Atlantic Ocean on its west and east respectively. The heat from Florida foreclosed homes worsens the normal humid sub-tropical climate.

The increasing number of Florida foreclosed homes makes it hold on to its top position as the worst offenders in the national foreclosure race. In the first quarter of 2008 the number of Florida foreclosed homes made the state rank second according to data collected by Foreclosures.com. During the first quarter there were 18,055 Florida foreclosed homes. The term foreclosure is used to refer to all the stages of the foreclosure process. There has been a 65% increase in the number Florida foreclosed homes. Last year 6,395 Florida foreclosed homes had been reported during the same time period.

Florida foreclosure homes in the pre-foreclosure stage also made the state rank second with 118,301. It was a 64% hike from 43,068 of Florida foreclosure homes in the pre-foreclosure stage during the first quarter of the previous year.

Florida foreclosed homes in the pre-foreclosure stage by household count, ranked third in the country with 18.7 out of every 1,000 household being affected. In the previous year the proportion was 6.8 per 1,000 households.

The number of Florida foreclosure homes in the pre-foreclosure stage in Orange County numbered 7,671 during the first quarter of this year. It included 918 Repo houses – the highest in the four county metropolitan zones. Lake County topped the numbers of Florida foreclosure homes in the stage of bank repossession with 472 being taken over but it was the lowest in pre-foreclosures with a count of 1,526. Of Florida foreclosed homes, in Osceola County, those in the pre-foreclosure stage numbered 3,127 with 371 Repo houses. In Seminole County of the Florida foreclosure homes those in the pre-foreclosure stage numbered 2,066 and there were 189 repossessions.

The numbers in California, Florida, Nevada and Arizona are the highest in the country. Lenders took over nearly 3 out of every household unit till now this year. It marked a 70.6% spike from 1.7 out of each 1,000 households during the first quarter of 2007. Till now this year 210,280 house owners have lost their properties to foreclosures.