Does Florida still top the foreclosure list? Yes. However, the national completed foreclosure numbers for March are in. Based on Corelogic’s record there were about 48,000 completed foreclosures, which is 10 percent lower than March of 2013. This marks the 27th consecutive month with decreased foreclosures and it indicates that the market is still recovering at a steady pace.
While the positive numbers are definitely a good sign, the real estate market still has a long way to go before it considered to be fully recovered. Foreclosures are still averaging slightly more than double what they were prior to foreclosure crises, when the monthly average was around 21,000.
Unsurprisingly, Florida still ranks the highest in foreclosures with a total 122,000 for the 12-month period ending in March. Florida faced a terrible recession caused by severe levels of unemployment and an unsustainable housing bubble. It caught many off guard and changed the landscape of foreclosure cases. Once barely an issue it became the focus for many people wishing to keep their homes.
Many hardworking people continue to be affected by the ramifications of foreclosure. Our law office of Graham Legal, P.A. knows just how to handle foreclosure cases. If you were affected by the recession and need some assistance please don’t hesitate to contact our firm.