Make us your home page
Instagram

Florida, still foreclosure king, sees new court filings slide

Florida foreclosure rate declines again

Florida is still America's foreclosure capital, but its rate of defaults, auctions and repossessions has slid for four months in a row, new housing data show.

The state saw 46 percent fewer new foreclosures last month than it did in November 2012, as distressed loans thinned and home values improved, according to RealtyTrac.

Another surprising explanation for the foreclosure slowdown: the state's new "faster foreclosures" law. Its tough new rules for documentation, lawyers argue, have forced some banks to delay their filings.

Tampa Bay saw 28 percent fewer foreclosure filings over the same time, though it's not out of the weeds yet. Eight of the 10 top foreclosure rates in the country are in Florida, and Tampa Bay is No. 8.

Fewer filings will ease pressure off the state's foreclosure courts, though the backlog remains thick. Florida judges are closing or dismissing about 20,000 foreclosures a month, but nearly 275,000 pending cases remain on the books.

Florida, still foreclosure king, sees new court filings slide 12/11/13 [Last modified: Thursday, December 12, 2013 8:25am]
Photo reprints | Article reprints

© 2017 Tampa Bay Times

    

Join the discussion: Click to view comments, add yours

Loading...
  1. Tampa is 15th-most popular city to move to with U-Haul

    Markets

    TAMPA —Tampa is undoubtedly a destination point, at least according to U-Haul.

    Tampa is the No. 15 destination for people moving with U-Haul trucks. | Times file photo
  2. Florida's economy growing faster than other big states and far better than U.S. overall

    Business

    When it comes to economic growth, Florida's running alongside the leading states and well ahead of the United States as a whole.

  3. Westshore Marina District project takes shape with another acquisition

    Real Estate

    TAMPA — One of Tampa Bay's prime waterfront areas took another major step toward redevelopment Friday as WCI Communities bought 2.35 acres in Westshore Marina District.

    WCI Communities, Lennar's high-end subsidiary,has paid $2.5 million for 2.35 acres in the Westshore Marina District for 35 townhomes. WCI is under contract  to buy an additional 9.5 acres.
[BTI Partners]
  4. Posh Guy Harvey RV park to open in Tampa Bay with $250,000 cottages

    Business

    HOLIDAY — Love those Guy Harvey T-shirts with the soaring marlins? In the not too distant future, you might be able to kick back in your own Guy Harvey cottage in the first-ever Guy Harvey RV park.

    Renderings of the clubhouse and an RV cottage site of the planned Guy Harvey Outpost Club & Resort Tarpon Springs.
[Guy Harvey Outpost Collection]
  5. Port Tampa Bay secures $9 million grant to deepen Big Bend Channel

    Business

    Port Tampa Bay has secured a $9 million grant from the U.S. Army Corps of Engineers for the widening and deepening of the Big Bend Channel in southern Hillsborough County.