Mortgage News

Miami foreclosure rate fell in February

That percentage has fallen consistently over the last 12 months, marking a 1.31 percentage point dip since February 2015. Though the county’s housing market continues to show signs of recovery from the crash years ago, Miami-Dade’s foreclosure rate is still higher than the national average of 1.13 percent in February.

 · Foreclosure filings fell in March to their lowest level in four years, according to real estate data provider Realty Trac. For the first time since July 2007, the nationwide number of filings fell under 200,000 – a 4% drop from the month before and a 17% decrease from March of 2011.

Trump’s golf havens fight taxes and shrink local revenues Trump also used the same loophole for his golf courses around the world, to the tune of more than $100 million in tax breaks. Still, Trump would go on to use the easement at his golf courses and other properties. In 2005, he deducted $39.1 million through an easement on his course in Bedminster.

Miami had the highest rate at 10.3 percent, increasing from 7 percent in February 2017, while San Francisco had the lowest at 1.7 percent. Both Miami and Houston saw significant increases in delinquency rates from a year ago as a result of the hurricanes, with the delinquency rate in Houston rising from 5.8 percent in February 2017 to 8.6 percent in February 2018.

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 · In troubled housing markets such as Las Vegas and Miami, cash deals represent about half of sales. The median sales price fell 5.2 percent to $156,100, the lowest level since April 2002.

Miami-Dade has the second highest rate of repeat foreclosures of any major market. Miami-Dade County saw its foreclosure rate fall 35 percent in April, year-over-year, to 986 foreclosure filings from 1,509 filings in April 2016. Miami-Dade’s rate of foreclosures still remains higher than in Broward County, which had 730.

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Miami’s foreclosure rate ranked at the top of major U.S. metropolitan areas. Total U.S. foreclosure filings — which also include notices of default and bank seizures — fell 35 percent in the.

The foreclosure rate in the Miami-Miami Beach-Kendall area had fallen to 8.72 percent in December. While this is down significantly from the 14.38 percent rate we saw one year earlier, it is still much too high.

Zillow’s report Thursday showed that while Florida does not have the most negative equity in the U.S., it does have a disproportionately high delinquency rate.According to the Wall Street Journal, part of the problem lies in Florida’s exclusively judiciary foreclosure process, which can keep borrowers in limbo for as long as 861 days – the state’s average foreclosure length in April.

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