Florida Mortgage Foreclosures On The Rise
Here in Florida millions of families have homes and mortgages but that number is sharply decreasing. The housing boom has cooled and now many can’t seem to afford the houses that were once their dream homes.
In August of this year alone there were 16,533 closures in Florida and it doesn’t look like this problem will get better anytime soon. In Miami-Dade there is 1 new foreclosure for every 195 homes.
There are a few different reasons for these forclosures and those include rising gas prices, interest rates, insurance premiums and even job losses.