MIAMI (CBSMiami) – While South Florida has seen a boom in foreign investors helping to prop up the real estate market, the state of Florida still led the nation in foreclosures completed in August, according to CBS4 news partner the Miami Herald.
Out of nearly 660,000 foreclosures over the last year nationwide, 110,000 of them were in Florida, according to CoreLogic. Michigan ranked second with 60,000 foreclosures completed followed by California, Texas, and Georgia.
The top five states accounted for almost half of all foreclosures completed nationwide, according to the Herald.
Still, Florida cleaned out a lot of foreclosures but still has the highest inventory of homes in foreclosure in the nation. According to the Herald, CoreLogic found that 7.9 percent of mortgage homes in Florida were in some state of foreclosure in August.
Florida had the highest rate of serious delinquency with 12.4 percent of its mortgages past due for 90 days or more. The national average for delinquency was roughly 5.3 percent, according to the Hearld.
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