It's Not The End Of The Foreclosure Mess In Orlando Just Yet!

The Chief Financial Officer, or CFO, Alex Sink has warned that Florida is not going to see the end of the foreclosure mess anytime soon. According to Sink, Florida will continue to climb the rung on the foreclosures by state list and the number of homes in foreclosure will rise significantly during August – September.

Currently ranked #4 for foreclosure activating on the national level, Florida has witness almost 150% increase form this period in 2007. Based on a E-Foreclosuresearch report there were 35,264 foreclosed homes or one foreclosure per 242 Florida properties. While the foreclosure numbers in April were almost 17% higher than March and as much as 146% more than same time last year.

The CFO also noted that if Florida continued to reinvent itself by creating higher paying jobs in high tech sectors and attracted more tourists to the State’s many tourism attractions, it would help the state’s economy and hence improve the overall foreclosure mess. Despite attempts by the state government, the Sunshine State is one of the top 5 states suffering from the highest number of government tax foreclosures in almost all its cities such as Tampa, Orlando, etc. Additionally, Florida State was also ranked 2nd in bank/lender repossessions as well as pre-foreclosure filings with 118,301 filings in the first quarter of the year, a nationwide survey revealed.

In Orlando region, the Orange County reported 7, 671 pre-foreclosures from Jan-March and there were 918 repossessions. Orlando foreclosures have been giving both the government and the residents’ sleepless nights as they are the highest in the state so far. Else in the state, Lake County had the maximum number of repossessed homes with 472, while Osceola County had 371 repossessions and Seminole County had 189.