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Pinellas County foreclosure rate soared 66.6 percent in March

A flurry of foreclosure filings in Pinellas County in March worsened the mortgage failure rate in the Tampa Bay area. While foreclosures were mostly flat in Hillsborough and Pasco counties from February to March, Pinellas reported a 66.6 percent rise in foreclosure activity, according to the real estate firm RealtyTrac. It's unclear whether this represented a deepening housing crisis in Pinellas or whether banks unloaded a backlog of cases held up by Gov. Charlie Crist's foreclosure moratorium in January. In the region as a whole, RealtyTrac counted 6,926 foreclosure filings in March, up from 5,828 in February. The Tampa Bay area's foreclosure rate, 1 out of every 190 households, was 23rd worse in the nation. Florida counted 47,131 foreclosure filings in March, making it the fourth-worst-hit state.

Pinellas County foreclosure rate soared 66.6 percent in March 04/16/09 [Last modified: Thursday, April 16, 2009 7:38pm]
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