The foreclosure noose that choked the Tampa Bay area in August loosened some in September.
The number of bay area properties in some phase of the foreclosure process — a default notice, scheduled auction or bank repossession — fell more than 17 percent in September, according to a RealtyTrac report released today. Lenders delivered new default notices to 1,540 homeowners last month in the bay area.
On the heels of a 74 percent rise in August, the Hillsborough County figure sank 30 percent. Filing activity fell 23 percent in Hernando and 13 percent in Pasco. Pinellas filings rose 13 percent. Overall bay area filings are 60 percent lower than September 2010.
In Florida, filing activity rose 2 percent in September, but the figure is still nearly 60 percent lower than September 2010. Nationally, initial filings fell almost 6 percent last month and represent a decrease of 38 percent from September 2010.
Earlier this year, experts had predicted that a second wave of foreclosures would hit Florida, following the collapse last fall of three huge law firms amid allegations of sloppy and fraudulent documentation, stalling thousands of cases. The predicted wave has turned into a roller coaster as numbers rise then fall.
Mark Puente can be reached at [email protected] or (727) 893-8459. Follow him at Twitter at twitter.com/markpuente.