Story Created:
Jul 7, 2009 at 6:09 PM EDT
Story Updated:
Jul 7, 2009 at 6:09 PM EDT
FORT MYERS & CAPE CORAL, Fla. - Nearly one in four homeowners in the Cape Coral - Fort Myers area are at least 90 days late on their mortgage.
According to First American Corelogic, foreclosure rates in Cape Coral and Fort Myers continue to skyrocket.
In May, 22% of home owners in our area were at least three months late making their mortgage payments. That's much higher than state and national numbers.
In the entire state of Florida, 15% of homeowners are 90 days behind. Across the country, that number is 6.5%.
The number of new foreclosure filings has gone up from about 70 a day one year ago to 125 a day.
The bottom line - far more people are 90 or more days late than last year.
A lot more homes are going into foreclosure than last year, but the number of foreclosures finalized has gone down the last three months. That could mean more lenders are working with delinquent buyers, and the rocket docket court system is clearing the foreclosure backlog.
