Florida has nation's highest foreclosure rate

Oct 11, 2012 | Posted by: roboblogger | Full story: South Florida Sun-Sentinel

The rankings tend to fluctuate from month to month, but it's clear why South Florida counties continue to feel the effects of the mortgage crisis following the end of the housing boom in 2005, said Jack McCabe, a housing analyst based in Deerfield Beach.

Comments
1 - 4 of 4 Comments Last updated Nov 14, 2012
You CAN Stop a Foreclosur

West Linn, OR

#1 Oct 12, 2012
I just found an ebook on Amazon that cuts to the chase and give you a huge variety of strategies that work to keep you home. Even if you're underwater, a military family, or have already received a Notice of Default. You don't have to be a victim of fradulent lenders ever again. ALL is legal and can be found in court successfully if needed.
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John

Delray Beach, FL

#2 Oct 12, 2012
How is it possible that every jerk azz hole from New York and New Jersey snowbirds in Boca Raton? Every time I come down to visit inlaws, I some how have a dustup with a New England jerk. What a bunch of aging pissoffs. Eph you all. I'll never live on the Florida east coast with these phhhucs!

Since: Nov 12

Location hidden

#3 Nov 13, 2012
It is a scary thing when you see that your property value is less than what you owe the bank. This fear has caused many people to default on their mortgages.

Rather than focusing on property value, which will rebound given enough time, focus on having a place to live. If you like your home and can make the payments (even if they are high), you still have a place to live. If your house goes into foreclosure, you will have to live somewhere and will be paying rent (who's to say it won't be at or above what you are paying now). Plus, you will have a foreclosure blight on your record.
drudy

Miami, FL

#4 Nov 14, 2012
campbellsimon wrote:
It is a scary thing when you see that your property value is less than what you owe the bank. This fear has caused many people to default on their mortgages.
Rather than focusing on property value, which will rebound given enough time, focus on having a place to live. If you like your home and can make the payments (even if they are high), you still have a place to live. If your house goes into foreclosure, you will have to live somewhere and will be paying rent (who's to say it won't be at or above what you are paying now). Plus, you will have a foreclosure blight on your record.
With the way homeowners/windstorm insurance and taxes are in South Florida, it's a good bet you can rent a comparable place for less than it cost you to own. Plus home costs are still too high here--they reflect foreign investor demand, not local incomes. South Florida still has one of the worst housting costs/income ratios in the country, even after the price collapse.

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