A recent article in the Miami Herald revealed the number of bank repossessions in South Florida fell sharply this past month according to a study conducted by real estate research firm, RealtyTrac.
With just under 20,000 foreclosures across South Florida, the region had the seventh highest foreclosure rate in the nation. One out of every 122 homes in South Florida was in some stage of foreclosure in October, the report found. After increasing steadily for months, bank repossessions fell 19.7 percent in Miami-Dade County in October compared to the previous month, dropping to 1,740. Monroe County had 98 foreclosures in October, down 38 percent for the month and down 47 percent from last October.
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If you have any questions on the topic of foreclosure, please feel free to contact foreclosure defense attorney, Timothy Kingcade at (305) 285-9100. You can also find useful consumer information on the Kingcade & Garcia, P.A. website at www.miamibankruptcy.com.