Complete,Foreclosure,Florida,D business, insurance Complete Foreclosure in Florida Drops in November
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The rate of foreclosures fell 42% in Florida last November,according to data released by a property tracking firm. It was comparedto foreclosure rate in the state in October. Compared to the volume of foreclosed home listings in November last year, the rate was 38% lower. Market observers noted that complete foreclosure in the state dropped, but temporarily.Analysts asserted that the number of complete foreclosure activitiesin Florida would continue to rise in the coming months. This is becausethe recent decline in foreclosures was certainly temporary as it wasbrought about by the banking industrys decision to temporarilyhalt foreclosures to give way to review and revamp of lendersforeclosure practices.Analysts added that the current housing crisis is not weakening.They said it is just benefiting from the immediate consequences of theso-called robo-signing controversy, which started inOctober when regulators and state attorneys general unveiled theprocedure of hiring foreclosure mills to acceleratesigning of foreclosure paperwork. Florida was among the states wherethe rate of foreclosure filings dropped because of the issue.On a national level, complete foreclosure and filings also droppedin November by 21% compared to the same month in 2009. One out of every492 homes was foreclosed in the entire country that month. Thatcompares to the rate of foreclosures in Florida, which was one in every 267 households.Clay County foreclosures also slowed down just like Collier County foreclosure auctionsin the state. The two counties have been among the main areas inFlorida where the volume of foreclosure activities have always remainedhigh. It is expected that Collier County foreclosure auctionsas well as Clay County foreclosures would rebound next month along withforeclosure rates in the entire state and country when banks resumetheir foreclosure activities.Meanwhile, Port St. Lucie was the only metro area in Florida thatwas included in the list of top 10 metro areas across the US with thehighest volume of complete foreclosure and even foreclosed homefilings. One per 173 homes in the area fell to foreclosure in November.It was ranked as No. 10. On top was still Las Vegas, where one out ofevery 99 homes was foreclosed. We have a huge number of foreclosed homes for sale on ForeclosureConnections.com.
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