Florida Had Highest Number of Foreclosures for 2012

by Isaac Benmergui, Esq on March 31, 2013

Red$graph_cropFlorida led the nation in the number of foreclosures for 2012, still in February there were more than 95,000 foreclosures completed, according to CoreLogic. Nearly 10 percent of all mortgaged homes in Florida are in foreclosure, which is the most of any state. The national average is 2.8 percent.

The state’s inventory of foreclosed homes dropped 2.4 percent in February from one year ago, due to the faster foreclosure practices with the hiring of additional personnel to complete the foreclosures, which began in January.

As Florida leads the way for foreclosures, other states are right behind them with  New Jersey, at 7.2 percent; New York, at 5 percent; Nevada, with 4.6 percent; and Illinois, with 4.5 percent.

The number of foreclosures completed in February fell to 54,000 across the nation. That reflected a decrease of 19 percent from the year prior at 67,000.

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