Direct result of politically incorrect deregulation of common sense financial greed: rate of foreclosures is directly proportional to the exorbitantly high interest rate of the loans
Originally posted on CBS Miami:
FLORIDA (CBSMiami) – Florida’s foreclosure crisis refuses to ease up, according to new data.
Monthly figures released Wednesday indicate Florida led the nation in January – the fifth month in a row – in the percentage and total number of properties in foreclosure, the News Service of Florida reports.
Florida had the highest rate of foreclosures in the nation for the month, with one in every 300 Florida housing units under some type of foreclosure filing. That’s more than twice the national average and 20 percent higher than a year earlier.
Florida also had the dubious honor of bypassing California for the total number of foreclosure filings for the month, marking the first time that California has been out of the top spot since 2007.
Miami-Dade, Broward and Palm Beach counties accounted for the bulk of homes under foreclosure.
Nationally, the number of foreclosures dropped 28 percent in January…
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