Nationwide trend of fewer repossessions is bucked in our state.
More than 6,700 homes were repossessed by lenders last month in Florida, according to a new report from RealtyTrac released on Thursday.
That's good enough for a 38% increase over July, 2011, and it goes against a nationwide trend in which bank takeovers have been decreasing on a monthly basis for nearly two years.
Palm Beach County standouts in Florida, with a 28% decrease in bank repossessions in July compared to last year. A bank repo is the final stage in the foreclosure process.
Florida moved to 3rd place in overall foreclosure activity last month, behind only California and Arizona.
RealtyTrac Vice President Daren Blomquist says reports that the market has rebounded may be premature, while citing the fact that bank repossessions and new foreclosure filings are up in Florida.
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