Foreclosure Filings Spike 36% In South Florida Region In Q3 2012

  

 MIAMI, FL --Lenders initiated more than 13,200 foreclosure actions in the tricounty South Florida region in the third quarter of 2012, representing a 36 percent surge in filings on a year-over-year basis compared to the same July through September period in 2011, according to a new report from CondoVultures.com.

For the year, lenders have filed nearly 35,700 notices of default - the first step in the repossession process - in the first nine months of 2012 in Miami-Dade, Broward, and Palm Beach counties after filing less than 24,000 actions during he same January through September period in 2011, according to the report based on the Condo Vultures® Foreclosure Database™.

Despite the spike in South Florida foreclosure actions in the first nine months of this year, the 2012 total number of filings initiated in the region is down compared to the same nine-month period in previous years when nearly 49,000 actions were filed in 2010 and nearly 75,500 actions were filed in 2009, according to the report based on filings with the Clerks of the Court for each respective county. 

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Condo Vultures® LLC is a real estate consultancy and marketing company based in the 225 Midtown Building at 225 NE 34th St., Suite 209B, Downtown Miami, Florida, 33137. Condo Vultures® LLC can be reached at 800-750-0517.