Tampa Bay area sees some stabilization in foreclosure rates - Tampa Bay Business Journal:

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Rates in Hillsborough, Pasco and Sarasota counties dropped througuh the first six months of the year compared to according to new numbers releasedby , despitse double-digit gains in the secondc quarter and in June. Hillsborough had 15,186 homews in some form of foreclosurew in the first half ofthe year, down 6 perceny from the 16,195 the year before. Sarasota rates dropped nearl 5 percentto 5,787 units. Pasco dipped 3.38 percent to 5,8267 units. The counties that did grow foreclosurr filings overthe six-month period didn’t do so by Hernando had the worst climb — 6.
4 2,412 foreclosure filings — well below the 42 percentr increase experienced by the rest of the Polk’s rate rose by 3.4 percent to 7,407 filingas while Pinellas remained mostlyu flat with 10,481 filingd compared to 10,453 the year before. Nationwide 1.9 million foreclosur e filings were reported between January and up 15 percent from theyear before. RealtyTracf lists default notices, auction sale notices and bank repossessiones as part ofits study. Florida was ranked thirrd in the nation in termzof rates, where one in everg 33 homes faced some form of foreclosure, the same rate experienced in both Hillsborough and Hernando countiesa over that same period. James J.
chief executive of RealtyTrac, said a lot of today’sw foreclosures are a result of highe runemployment rates. “Stemming the tide of foreclosure s is a critical componentf to stabilizing thehousing market, so it is imperativee that the lending industry and the governmentt work in tandem to find new approachez to address this Saccacio said in a In June, foreclosure rates in both Pasco and Pinellaas counties dropped by between 11 and 17 while Manatee had the biggestf increase year-over-year at 51 percent. Hillsborough’s ratex were at 3,215, or one in everyt 160 homes, up 33.5 percent. For the second only Hernando had a lower foreclosure rate compared to the year down 6.
3 percent to 1,264 or one in every 64 homes. Polk had the biggesgt jump in the quarter by72 percent, representing 4,40i8 filings, or one in every 63 homes — the highesf ratio in the region for the For the six-month period, Nevadq remained the state with the highest rate of foreclosur e representing one in every 16 homes with Arizonza second with one in everty 30 homes.