Central Florida has one of the highest foreclosure rates in the US

Foreclosure activity in the U.S. is on the rise. In the first six months of the year, default notices, scheduled auctions, or bank repossessions increased by 13% compared to the first half of last year and by 185% compared to the first six months of 2021, according to land, property, and real estate data provider ATTOM.

The highest number of foreclosure filings were reported in Illinois, New Jersey, and Maryland, while the largest increases in foreclosures occurred in Maryland, Oregon, and Alaska. At a more granular level, some major U.S. metropolitan areas are also reporting especially high foreclosure rates relative to the rest of the country.

According to a recent report from ATTOM, the Orlando-Kissimmee-Sanford metro area in Florida has one of the highest foreclosure rates of any region in the country. In the first half of 2023, there was about one foreclosure for every 428 homes, the 15th highest foreclosure rate of the 223 metropolitan statistical areas with populations of at least 200,000 considered in the report.

The 2,504 total foreclosures in the metro area from January to June 2023 represent a 15.3% increase from the same period in 2022.

Eric Mock, a local realtor and an Apopka resident, has some advice if you fall into the foreclosure process.

"If you receive a pre-foreclosure letter from your lender, DON’T WAIT!  Contact your lender and your favorite Realtor to see what options you have.  You might be surprised at what is available.  The clock is ticking!"

All data in this story is from the ATTOM report Foreclosure Activity In First Half Of 2023 Ticks Upwards Toward Pre-Covid Levels.