Monroe Funding Corp

Florida May Be Facing a Foreclosure Fiasco

Because of the COVID-19 pandemic, a ban on foreclosures gave protection to households struggling to pay their mortgages. However, with Florida currently ranking second in the country, foreclosure filings are on the rise according to ATTOM Data Solutions.


Fort Lauderdale, FL -- (SBWIRE) -- 01/08/2021 -- The number of properties facing foreclosure filings in August was over 300 percent higher than in July. Over the same time in Hillsborough City, foreclosure filings were almost twice that, a 600+ percent rise. Florida's uptick in mortgage filings may be a matter of resuming court operations, disclosing delays, or reform in any foreclosure laws. With these figures, it is worth keeping a close watch on Florida.

Lakeland was one of the top five metro areas in the United States with the highest foreclosure rate in August (with a minimum 200,000 population).

Conversely, however, low-interest rates, a small supply of housing, and buyers bidding against each other can imply a strong demand.

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About Monroe Funding Corporation
Monroe Funding Corporation is a direct equity lender serving clients throughout Central and South Florida, specializing in first mortgages on non-owner occupied residential and commercial property investments as well as real estate loan options. Our fast and flexible loan programs get clients to the closing table quickly and professionally. For more information on hard money lending Naples, please call 954-816-0388 or fill out the application.