Data released from California-based RealtyTrac Inc. showed that Southwest Florida's foreclosure rate dropped 9 percent last month from August and 4 percent from a year ago.
"We're going to see a huge reduction," said Jack McCabe, a Deerfield Beach-based real estate consultant. "That reduction may not be apparent in the current numbers because banks have only begun to halt foreclosures in the past few weeks. But beginning next month, we should see foreclosures drop by 50 percent or more."
Nationwide, foreclosure filings still increased 3 percent to 347,420 in September from the previous month, and 1 percent from a year ago, RealtyTrac data showed.
In Florida, filings were up 5 percent from August and 8 percent from September 2009.
The situation among Southwest Florida's three counties was mixed, with filings rising sharply in Sarasota and falling sharply in Charlotte.
Thursday, October 14, 2010
Foreclosure problems might lead to drop in filings | HeraldTribune.com
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