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Latest foreclosure figures in Florida a mixed bag

October has been a bad month for foreclosed homes the past several years. This year was especially bad, with the foreclosure rate jumping 12 percent compared with September, The Tampa Tribune reports.

Florida was slightly above the national rate with a 12.58 percent increase month-over-month. Last month, one out of every 579 housing units in the state was in foreclosure. That put Florida third in the U.S. after just Maryland and New Jersey. Florida has ranked in the top five for foreclosure rate every month of 2015 thus far.

While distressing, people who track foreclosure trends were not surprised, by the national jump, according to an executive at RealtyTrac. Last month was the fifth October in a row to see an increase. However, the average rate increase in that time was just 5 percent.

The RealtyTrac executive suspects that banks foreclosing on people who have been behind on their mortgage for a while caused some of the increase, with “fissures in economic fundamentals” responsible for much of the rest. The Tribune article does not go into further detail on what that means.

Meanwhile, there were 91,251 completed foreclosures in Florida in the 12-month period ending Sept. 30, the Herald-Tribune reports, most in the country. The good news is, that figure is about 25 percent lower than the previous year.

These numbers suggest that while the backlog of foreclosures is shrinking, there may be a new crop of homeowners possibly facing the loss of their homes. They will need the assistance of an experienced foreclosure defense attorney to try to avoid this result.

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