Make us your home page

Bay area foreclosures rise again, but not as much

Economists long predicted that May would be rough for foreclosures because of all the adjustable-rate mortgages due to reset.

Numbers released Friday by RealtyTrac bear out at least part of that dire prediction.

While Tampa Bay area foreclosure filings in May totaled 4,773 — third to the 5,904 in August and 4,787 in September — the year-over-year increase in mortgage defaults was smaller than it has been for months.

Foreclosures increased 29 percent from May 2007 to May 2008. Compare that to the 120 percent rise from April 2007 to April 2008 and the 93 percent jump from March to March.

By counting multiple foreclosure filings on single properties, RealtyTrac tends to exaggerate mortgage defaults. And only 1,100 of the 4,773 local cases in May involved imminent confiscation of a home. Most of the rest represented homeowners several months behind on mortgage payments. The Tampa Bay area reported one of every 271 households in some stage of foreclosure. That's better than the state average of one for every 228 households. Worst hit were Cape Coral-Fort Myers and Port St. Lucie-Fort Pierce, which placed in the top 10 nationally. The Tampa Bay area ranked 35th.

Bay area foreclosures rise again, but not as much 06/13/08 [Last modified: Monday, June 16, 2008 10:37am]
Photo reprints | Article reprints

© 2017 Tampa Bay Times


Join the discussion: Click to view comments, add yours

  1. In advertising, marketing diversity needs a boost in Tampa Bay, nationally


    TAMPA — Trimeka Benjamin was focused on a career in broadcast journalism when she entered Bethune-Cookman University.

    From left, Swim Digital marketing owner Trimeka Benjamin discusses the broad lack of diversity in advertising and marketing with 22 Squared copywriter Luke Sokolewicz, University of Tampa advertising/PR professor Jennifer Whelihan, Rumbo creative director George Zwierko and Nancy Vaughn of the White Book Agency. The group recently met at The Bunker in Ybor City.
  2. Tampa Club president seeks assessment fee from members


    TAMPA — The president of the Tampa Club said he asked members last month to pay an additional assessment fee to provide "additional revenue." However, Ron Licata said Friday that the downtown business group is not in a dire financial situation.

    Ron Licata, president of the Tampa Club in downtown Tampa. [Tampa Club]
  3. Under Republican health care bill, Florida must make up $7.5 billion


    If a Senate bill called the Better Care Reconciliation Act of 2017 becomes law, Florida's government would need to make up about $7.5 billion to maintain its current health care system. The bill, which is one of the Republican Party's long-promised answers to the Affordable Care Act imposes a cap on funding per enrollee …

    Florida would need to cover $7.5 billion to keep its health care program under the Republican-proposed Better Care Reconciliation Act of 2017.  [Times file photo]
  4. Amid U.S. real estate buying binge by foreign investors, Florida remains first choice

    Real Estate

    Foreign investment in U.S. residential real estate recently skyrocketed to a new high with nearly half of all foreign sales happening in Florida, California and Texas.

    A National Association of Realtors annual survey found record volume and activity by foreign buyers of U.S. real estate. Florida had the highest foreign investment activity, followed by California and Texas. [National Association of Realtors]
  5. Trigaux: Tampa Bay health care leaders wary of getting too far ahead in disruptive times


    Are attempts to repeal Obamacare dead for the foreseeable future? Might the Affordable Care Act (ACA), now in dire limbo, be revived? Will Medicaid coverage for the most in need be gutted? Can Republicans now in charge of the White House, Senate and House ever agree to deliver a substitute health care plan that people …

    Natalia Ricabal of Lutz, 12 years old, joined other pediatric cancer patients in Washington in July to urge Congress to protect Medicaid coverage that helped patients like Ricabal fight cancer. She was diagnosed with Ewing's sarcoma in 2013 and has undergone extensive treatments at BayCare's St. Joseph's Children's Hospital in Tampa. [Courtesy of BayCare]