Tampa Highest Foreclosure Rate in Nation

According to the Tampa Bay Times: September 17, 2015

The Tampa Bay area posted the highest foreclosure rate among the nation’s 20 largest metro areas in August, although local foreclosure activity continues to decline.

According to RealtyTrac, one in every 527 bay area homes was in some stage of foreclosure — more than twice the national average. However, that was down 23 percent from a year earlier, the third-biggest decrease of any major metro area.

Only Miami, San Francisco, and Atlanta had larger declines.

Nationally, foreclosure activity in August decreased 6 percent following five consecutive months of year-over-year increases.

That shows that the “housing recovery of the past three years is built on a solid financing foundation,” said Daren Blomquist, RealtyTrac’s vice president. “But the continued rise in bank repossessions indicates more batches of bank-owned homes will be rippling through the housing market over the next three to 12 months as lenders list these properties for sale.”

In August, lenders took back 45,702 U.S. homes. Repossessions increased in 36 states, with Florida leading the way with a 23 percent year-over-year increase.

Carolyn Secor P.A. focuses its practice in the areas of Bankruptcy and Foreclosure Defense in Clearwater, Florida. For more information, go to our web site www.BankruptcyforTampa.com or call 727-254-1704.