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. Triad Retail Media names Sherry Smith as CEO

    Corporate

    ST. PETERSBURG — Triad Retail Media, a St. Petersburg-based digital ads company, said CEO Roger Berdusco is "leaving the company to pursue new opportunities" and a member of the executive team, Sherry Smith, is taking over.

    Roger Berdusco is stepping down as CEO at Triad Retail Media to pursue other opportunities. [Courtesy of Triad Retail Media]
  2. Two new condo projects for same street in downtown St. Pete

    Real Estate

    ST. PETERSBURG — It lacks the panache and name recognition of Beach Drive, but 4th Avenue N in downtown St. Petersburg is becoming a condo row in its own right.

    Bezu, a condo project planned at 100 4th Ave. N in downtown St. Petersburg, will have 24 units including a three-level penthouse with infinity pool.
[Courtesy of Clear ph Design]
  3. AAA expects gas prices in Tampa Bay will continue to fall

    Autos

    Ticking slowly and steadily, regular gas prices have receded for the last 10 consecutive days. The average unleaded gas price in Florida is $2.67 this morning, a nickel cheaper than a week ago. In Tampa Bay, the current average unleaded gas has dropped 7 cents from a week ago to $2.62. The national average for regular …

    Gas prices for regular gas continue to decline. In Tampa Bay, the current average unleaded gas is down 7 cents from a week ago at $2.62 a gallon. [Times file photo]
  4. Kiran and Pallavi Patel commit $200 million for Clearwater medical school

    Real Estate

    CLEARWATER — Tampa Bay philanthropists Dr. Kiran Patel and his wife, Dr. Pallavi Patel are spending $200 million to create and promote a Tampa Bay regional campus for the private Nova Southeastern University.

    Drs. Kiran and Pallavi Patel, prolific Tampa Bay philanthropists, are putting up $200 million to create and run a new medical school under Nova Southeastern University. Here is a rendering of the proposed campus [Courtesy of Southestern Noval University}
  5. USF to rename sports management program for Vinik family

    Blogs

    The University of South Florida will name a business program for the Vinik family at a Tuesday event.

    Tampa Bay Lightning owner and chairman Jeff Vinik and his wife, Penny, in 2010.