| If you believe that the foreclosures torrent that affects | | | | new filings of foreclosure within the county. Things |
| each city and almost each street and neighborhood | | | | could get much worse. |
| within South Florida is already as bad as it could every | | | | Brand new filings of foreclosure within the counties of |
| be, here is the harsh and brand new truth for you: a | | | | Monroe, Miami-Dade and Broward are slowly finding |
| brand new foreclosure wave is trying to make its way | | | | themselves into the top 120,000 within this year. Clerks |
| throughout the courts, which has nothing to do with | | | | of court state that filings might even go up to 135,000, |
| subprime loans that are exotic, flippers of real estate | | | | which is from 17,000 up to 32,000 more compared to |
| that merely want to make fast money or people who | | | | last year. |
| buy much more housing compared to what they can | | | | These statistics tend to be played out everyday within |
| actually afford. Today, double digits of unemployment, | | | | neighborhoods like Malibu Bay, the gated community |
| dropping prices of homes and the still-lingering | | | | within Homestead where values of property have |
| recession can be claimed. The second wave of | | | | significantly plummeted. Two-bath, two-bedroom |
| foreclosures is sure to come as the amounts are | | | | homes that used to sell for around $242,000 within the |
| already staggering. | | | | month of August in 2006, for instance, are now listed |
| While the second year quarter was going on, almost | | | | for around $70,000. Malibu Bay happens to be a |
| one out of four home loans in Florida were already | | | | community, which is quiet and well-manicured, filled with |
| past due, if not already in foreclosure. This made | | | | sand-colored homes that have no signs of foreclosure |
| Florida a highly delinquent state within the nation. This | | | | in sight. However, as with a lot of neighborhoods in |
| could seriously delay any recovery to be found in | | | | South Florida, this serene picture is merely a mask to |
| Florida since markets with a lot of foreclosures is sure | | | | its true secrets. Within a stretch of 200 yard in 11th |
| to send housing prices down. The county of | | | | Drive within the section of Ventura in Malibu Bay, |
| Miami-Dade in Florida happens to have the second top | | | | around 14 of 48 of the townhomes are already within |
| rate of foreclosure, after the county of Osceola in | | | | a stage in foreclosure. Even though the grass remains |
| California. Broward ranked as number six. Plus, | | | | trimmed by their association of homeowners, a lot of |
| RealtyTrac’s tracking of foreclosure has found that | | | | these homes are vacant and shuttered and the doors |
| the epicenter of this boom merely two years back, | | | | are padlocked. |
| known as Homestead, had the top rate within brand | | | | |