The county seat of government for the Broward County, Fort Lauderdale and the whole of Florida State is undergoing high rate of foreclosure. This year, Fort Lauderdale along with other towns has seen a considerable high rise in rate of foreclosure in comparison to the last year.
The Chief Executive of officer of a renowned service provider of national database of foreclosure and bank owned properties recently stated that Florida foreclosures activity that was revealed in June was the highest ever reported since January 2005. The past economical activity of the state shows decline in home sales. The median prices are also co-incidental with the current rising of foreclosure activity in the state.
The newly available statistics about Florida foreclosures scenario in the past few months stated that there was a rise of 7 and 8 percent in the months of March and June respectively. This was 112 and 92 percent above the foreclosure rate announced in the months of March and June 2007 respectively.
The Fort Lauderdale foreclosures along with other foreclosures in the Broward County were rated on the top and dominated the state’s foreclosure activity in June with 6,292 properties reported with foreclosure filings. In March, Broward was spotted at the second place, with 3,941 properties reported to receive a foreclosure filing.
In June itself, the Broward County was adjudged with the third highest foreclosure rate in the state with one in every 127 households receiving a foreclosure filing. In March, the county was at the third place with highest rate with one in every 202 household receiving a foreclosure filing.
The stats indicate that the continuous rise in Fort Lauderdale foreclosures, which includes HUD homes, government foreclosures, and others.
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Written by Alex Rolim.
