Mortgage Application
Apply for a free, no-obligation quote from Florida Home Loan
Florida Home Loan offers the best interest rates on mortgage loans with outstanding customer service to
give you a pleasant experience with your re-finance,
home equity loan or new home purchase.

Give us a chance to prove it by clicking here.
Start

Florida Home Loans Continue to Go into Foreclosure

Posted at February 14th, 2007 4:25 am by mrichenthal
Filed under: Foreclosure

Having trouble paying off your Florida mortgage on time? Sadly, you are not alone.

Nearly 11,500 property owners in the state filed for foreclosure in January, accounting for just over half of the entire Southeast region’s 20,199 filings, according to Foreclosures.com, a California-based real estate investment advisory firm.

Adding to the dismal numbers, the regional total is almost half of the 46,933 filings for all of first quarter 2006.

However - hopefully - the worst of the Florida housing market slump is over, according to Alexis McGee, president of Foreclosures.com.

“We’re just not through yet with the aftereffects of all the people who used creative [Florida mortgage loan] financing to buy homes beyond their means - especially in coastal and resort areas in the Southeast,” McGee said in a release.

“Payments on those creative mortgages have ballooned, home prices stagnated and homeowners’ equity eroded. Many overextended homeowners are left with little option but foreclosure.”

« Florida Flipper Finds Faulty Footing
Can North Florida Housing Market Handle Rapid, Inevitable Expansion? »

6 Responses to “Florida Home Loans Continue to Go into Foreclosure”

  1. Florida Mortgage Company Shuts Down Jacksonville Office as Deliquencies Rise - Florida Home Loan Says:
    March 19th, 2007 at 7:51 am

    […] in addition to facing a high foreclosure rate on Florida home loans, maintains a wide base of mortgage processing centers for financial services […]

  2. Florida Mortgage Delinquencies Rise in Marion County - Florida Home Loan Says:
    March 19th, 2007 at 11:26 am

    […] delinquency and foreclosure rates nationally hit record highs, Marion County’s number of foreclosure filings jumped almost 33 percent in February from the same period last […]

  3. Foreclosure Activity Down Four Percent Last Month, Up Twelve Percent from Last Year - Florida Home Loan Says:
    March 26th, 2007 at 6:47 am

    […] report also shows a national foreclosure rate of one foreclosure filing for every 884 U.S. households during the […]

  4. Fannie Mae Plans Hundreds of Job Cuts - Florida Home Loan Says:
    April 4th, 2007 at 6:44 am

    […] the government-sponsored company backs one of every five Florida home loans. It’s one of the largest private employers in the D.C. […]

  5. Pembroke Pines Affordable Housing Study to Proceed Despite Builders' Challenges - Florida Home Loan Says:
    April 9th, 2007 at 6:05 am

    […] Mayor Iris Siple said, “We should consider low-interest [Florida home loans] for those already in homes” who could lose them because of increases in taxes and […]

  6. Pasco County Housing Market Downturn Evident as Inventory Rises, Expectations Sink - Florida Home Loan Says:
    April 17th, 2007 at 6:17 am

    […] “short sale,” which means a seller getting less from his home sale than what he owes in Florida home loans; and “home staging,” or dressing up a home to look model-pretty just so a buyer might […]

Leave a Reply