I have been waiting for the May number for Miami Dade County, and now am hopeful we might see a slight downward trend on foreclosures. We haven’t seen a number below 5,000 since November so May’s 4,274 count is good news. Foreclosures this year: January: 6,063, February: 5,942, March: 7,103, April: 6,510, May: 4,274. I previously wrote about foreclosures on May 30th. Whereas there was a jump from Mach 2008 to March 2009 of almost 3,000, the numbers in the same two years in May remained steady (4,271 in 2008 and 4,274 in 2009). Is it an anomaly or a sign of a positive trend?
2 comments:
As Option Adjustible Rate Mortgages get reset over the next 30 months foreclosure cases will start increasing again.
Many mortgages will go from 1% to 7%. More foreclosures will follow...
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