Florida Foreclosure filings decreased but Florida foreclosures remains high in national foreclosure rate

In a previous post, I discussed the decrease in foreclosure filings over the past month. Experts suggested that this was no cause for celebration. It turns out that the experts are correct.

Florida foreclosures are the third highest in the nation, according to realty trac. From January through June, 2009, 3% of Florida homeowners received at least one foreclosure filing. Florida's foreclosure rate is even more disturbing. With 268,064 properties receiving a foreclosure filing in the first six months of 2009, Florida documented the second highest state total number of foreclosure filings. Florida foreclosure activity in the first half of 2009 increased 7 percent from the previous six months and was up nearly 42 percent from the first half of 2008.

It is clear that Florida foreclosures will continue at an alarming rate as more and more homeowners are affecting by foreclosure. As unemployment is expected to rise, it is a certainty that this will lead to more foreclosure filings as well.