Florida Foreclosure Numbers

Florida Foreclosure Numbers
florida foreclosure numbers
florida foreclosure numbers
florida foreclosure numbers
florida foreclosure numbers

Bank of America Provides Florida Financing to Help Reduce Foreclosures

Bank of America Allocates $10.7B to Florida to Help Stem Foreclosures

Recent reports state that Bank of America has decided to give Florida a sizable chunk of change in an effort to relieve its foreclosures. The amount of $10.7 billion represents 6.4% of Bank of America's total amount loaned in its distribution program. The purpose of the money is to help sustain economic development and relief programs to benefit both small businesses and consumers alike. The distribution ultimately looks to generate jobs and general morale in the midst of a housing market in ruin, and will hopefully see a drop in Florida foreclosures.

Although Florida foreclosure numbers dropped in April, REO foreclosure numbers were on the upturn. Strangely enough, REOs were down only the month before. On a state-by-state basis, Florida remains one of the top in terms of foreclosures (third place in April, fourth in March, respectively). Meanwhile, states such as California are actually dropping in rank in terms of state foreclosure property numbers (from second to fourth).

Most of the money allocated by Bank of America is going to South Florida due to the fact that the area is hitting record numbers of distressed properties within the state. $3.8 billion has been given to the area, representing about 35.5% of the total amount distributed. Within South Florida, Miami saw the largest chunk of change with $1.5 in an attempt to relieve Miami foreclosures. Most of South Florida's foreclosure numbers come from condos, with state government attempting to pass legislation to aid such areas.

In short, the Bank of America cash is looking to give the state some large-scale relief, creating jobs and providing some overall recovery.

About the Author

Copyright 2009 Anthony Aires
http://www.REOkit.com

A list of foreclosures?

How can I get a simple list of the foreclosures in my area "West Palm Beach" Florida. Court records etc have to be scanned one by one with docket numbers etc....it's seems like a lot of work for some simple information.

go to any real estate page like

You can also type in "foreclosures" in your browser page. I've done it; it's easy

Improvement in Florida's foreclosure numbers