Florida Has the Nation’s Highest Foreclosure Inventory
By Paul Owers
Feb 8, 2012
Florida has the nation’s highest foreclosure inventory, according to a report Wednesday from CoreLogic, a California research firm.
Roughly 12 percent of all homes with a mortgage in the Sunshine State were in some stage of foreclosure as of December, virtually unchanged from a year ago. New Jersey is second (6.4 percent) and Illinois third (5.4 percent). The national average is 3.4 percent.
About 17 percent of Florida homeowners are 90 days late on their mortgage payments. That also tops the nation.
• Lenders completed 83,268 foreclosures in Florida during 2011, down from 155,486 the year before. Since January 2006, 483,374 foreclosures have made it through Florida courts.
• Nationally, 1.4 million homes, or 3.4 percent of properties with a mortgage, were in the foreclosure process as of December.
• Lenders completed about 830,000 foreclosures nationwide last year, down from 1.1 million in 2010.
Originally posted on Sun-Sentinel.com.