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.
For more information, please visit https://www.abcactionnews.com/news/local-news/i-team-investigates/floridas-foreclosure-rate-second-highest-in-the-u-s-filings-increase-as-courts-open.
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