Report: Loan foreclosures at 8.1% - Orlando Business Journal:

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The rate of foreclosures amonhg outstanding mortgage loanswas 8.1 percent in March, more than double March 2008’s 3.5 percent rate, Firsty American data said. Foreclosuree activity in Orlando-Kissimmee is higher than the nationao foreclosure rateof 2.1 percentr in March 2009. Meanwhile, 15.8 percent of mortgage loanzs were 90 days or more delinquengtin March, more than twice the 6.7 percenr rate for the same month a year Between April 2008 and March 2009, 61,833 foreclosure filings posted in Orlando-Kissimmee, or 169.41 per day. That comparews with 27,189 foreclosure filings, or 74.49 per day, in the same periodx a year prior.
Public record foreclosure filings include noticeof default, noticd of foreclosure sale when the property is scheduled for auctioj and bank repossessions known as real estatee owned. Foreclosure data for Firsg American CoreLogic is based on the actualk number of activemortgage loans, rather than the total numberd of households in a given area, which provide more accurate results by removing paid-in-full mortgages from the the report said.
RealtyTrac May 13 that Orlando recordeed the 10th highest foreclosure rate amongthe nation’s largest metropolitanb areas, while Florida overalk had the second highestg foreclosure rate with one in every 135 homex receiving a foreclosure filing in Orlando home increased nearly 42 percent, but nearly half of thosew sales were bank-owned or distressexd properties and values continued to sink, accordingh to the First American CoreLogic, a membefr of (NYSE: FAF) family of companies, is one of the largesrt provider of real estate, property and ownership data and advances data on foreclosures, delinquencies, median home prices, home price home valuations, sales activity and mortgagw loan originations.