Florida Foreclosures Rank Second in Nation
Thursday, February 16, 2012
By: Robert Lyle

February 16, 2012 | WMFE - The real estate tracking firm RealtyTrac says that Florida had the second highest number of properties in foreclosure in the country in January. Only California had more. The numbers are not yet at the record level set in 2010, but analysts say it probably will be soon.

  

Last year, Florida foreclosures were 60 percent below 2010. But that is changing quickly. January saw a huge 36% increase in first foreclosure notices.

Daren Blomquist is a Vice President of RealtyTrac. “What that tells us is that lenders are slowly but surely breaking up the logjam of foreclosures that exists in Florida because of the foreclosure processing issues that some of the lenders have been facing over the last year and a half."  Blomquist said.

The RealtyTrac report shows overall foreclosure activity in Florida rose by 14 percent in January compared to the previous year.
But Blomquist said Florida is in for a return to a large number of foreclosures this year.
“It's gonna take more time for Florida to work thru the wreckage left over from the housing boom and bust."\