Fla. foreclosures dropped in April
TALLAHASSEE, Fla. - May 14, 2010 - The number of Florida foreclosures fell in April from a year earlier, mirroring a national trend that indicates a slowing of defaults on mortgages, according to data released Thursday by RealtyTrac.
Florida's foreclosure fell 18 percent from March and was down 25 percent compared to April 2009. Despite the improvement, the state still posted the second highest number of foreclosures in the nation, however, with 48,384 properties receiving a foreclosure filing during the month.
The Fort Myers area posted the nation's fourth highest metro foreclosure rate, with one in every 105 housing units receiving a foreclosure filing. The region continues to dig out from under the housing collapse that followed an extraordinary boom in southwest Florida.
Orlando, meanwhile, dropped out of the top 10 to No. 11 in the monthly poll.
Easing credit and an uptick in economic activity are possible drivers to the lower figures. Federal programs have also helped.
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