Florida Ranks in the Top 10 for Highest Foreclosure Rates

February 6, 2018 Posted by kingcade

Even with economic improvement, Florida ranked among the top 10 states with the highest foreclosure rates in 2017, despite the number of foreclosures dropping by 45% compared to 2016. Last year in Florida there were 24,215 foreclosure proceedings filed, compared to 43,772 in 2016, according to ATTOM Data.

Here are the states with the highest foreclosure rates in 2017:

  1. New Jersey (1.61 percent of housing units with a foreclosure filing);
  2. Delaware (1.13 percent);
  3. Maryland (0.95 percent);
  4. Illinois (0.86 percent);
  5. Connecticut (0.78 percent);
  6. Florida (0.72 percent);
  7. South Carolina (0.70 percent);
  8. Ohio (0.70 percent);
  9. Nevada (0.67 percent);
  10. New Mexico (0.63 percent).

Florida ranked among the top states with the highest number of legacy foreclosures on loans originated between 2004 and 2008. Miami-Dade County ranked among the highest number of legacy foreclosures in the nation. The top counties were: Nassau County (Long Island), New York (6,782); Cook County (Chicago), Illinois (5,478); Kings County (Brooklyn), New York (4,677); Miami-Dade County, Florida (3,804); and Suffolk County (Long Island), New York (3,417). In the fourth quarter of 2017, Florida also ranked near the top of all states with the longest average time to foreclose, on average 1,493 days.

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Choosing the right attorney can make the difference between whether or not you can keep your home. A well-qualified Miami foreclosure defense attorney will not only help you keep your home, but they will be able to negotiate a loan that has payments you can afford. Miami foreclosure defense attorney Timothy Kingcade has helped many facing foreclosure alleviate their stress by letting them stay in their homes for at least another year, allowing them to re-organize their lives. If you have any questions on the topic of foreclosure please feel free to contact me at (305) 285-9100. You can also find useful consumer information on the Kingcade Garcia McMaken website at www.miamibankruptcy.com.