Zombie foreclosures are homes that have been abandoned by the original owner, but not yet been sold at auction by the bank. Florida, while still leading the nation in the amount of these zombie foreclosures, has recently cut their total in half in a year-over-year comparison.
According to a RealtyTrac report, zombie foreclosures in Miami-Dade, Broward, and Palm Beach counties have decreased by just under 50 percent in the second quarter of 2015, when compared to the same time period last year. When totaled, the aforementioned counties have a total of 7,021 zombie foreclosures, which alone would place it fourth in the country when compared to any other state. The state of Florida as a whole, however, leads the nation with almost 28,000 zombie foreclosures, surpassing 2nd place New York by over 10,000.
Dramatic improvement bodes well for future
While leading the zombie foreclosure “race” by an enormous amount isn’t preferred, the improvement from the Sunshine State in this department shows a promising look for the future. The battle against reducing the number of zombie foreclosures is nearing the later rounds, and the steady improvement in this arena hopes to continue in the coming months.
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