According to those statistics, more than 19,144 Florida properties were in some stage of foreclosure in February. The foreclosure rate for Florida jumped over sixty-three percent from the prior month and nearly double the number from February 2006. This equates to a rate of 1 foreclosure filing for every 382 Florida households - more than double the national average of 1 foreclosure filing per 884 US households.
The true panic does not seem to have hit the Florida market yet, but with billions of dollars of adjustable rate mortgages resetting this year in the United States, the panic may not be far off.
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