Falling behind on mortgage payments or homeowner association fees can be daunting, and the possibility of having your home go into foreclosure is something no one wants to face. The good news is that nationally, foreclosure rates for July 2019 were down 21% from last year—but there were some unexpected findings as well.
Although the overall foreclosure rates are down from the previous year, Florida and 3 of its cities ranked among those with the highest foreclosure rates in July 2019. Below is a list of the top 5 states and cities with the worst foreclosure rates:
Florida ranked number 3 of the top 5 states for foreclosure. The top 5 states with the highest rates of foreclosure are as follows:
In a study of 53 metropolitan statistical areas with a population of at least 1 million people, Jacksonville ranked on the list for the top 5 cities with the highest foreclosure rates. The top 5 cities with at least 1 million people with the highest foreclosure rates are as follows:
In a broader sample of 220 metropolitan statistical areas with a population of at least 200,000 people, Jacksonville still ranked in the top 5:
Although Jacksonville has been listed as an outlier with one of the worst foreclosure rates, it’s still not definite that this trend will continue. Looking at the foreclosure rates year over year, there has been a general downward trend—perhaps showing hope for a healthy economy going into the new year.
At Parker & DuFresne, we know how valuable your home is to you. We have helped defend over 700 foreclosure cases in Jacksonville, and we work hard to help you solve even the most complex situations. You don’t have to face the battle alone—our foreclosure attorneys can help. Contact us today for a free consultation.
Parker and DuFresne