(Orlando, Florida) – The Orlando metropolitan statistical area — Lake, Orange, Osceola and Seminole counties — reported a total of 3,537 foreclosure filings, or one in every 266 households, in January.
The Orlando area saw a huge spike in foreclosure filings last month, showing that the halted foreclosures from “robo-signing” issues in late 2010 are finally coming to the forefront, showed a new report from RealtyTrac Inc.
The Irvine, Calif.-based research firm reported the Orlando metropolitan statistical area — Lake, Orange, Osceola and Seminole counties — reported a total of 3,537 foreclosure filings, or one in every 266 households, in January. That was a 54.2 percent jump from the 2,289 posted in January 2011 and a 33 percent increase from the 2,659 filings reported in December 2011.
It also put the Orlando area at No. 14 for the most foreclosures among the nation’s largest metro areas.
Filings include default notices, auction notices and bank repossessions.
Meanwhile, Lake County was the only county to see a decline in foreclosures. Lake reported 362 filings last month, which was 10 percent less than the 403 posted in December 2011. However, it was 9.7 percent higher than the 330 reported in January 2011.
The other counties foreclosure count was as follows:
• Seminole reported 566 filings in January 2012, which was 97.9 percent more than the 286 reported in January 2011 and 45.8 percent up from the 388 posted in December 2011
• Osceola had 657 filings last month, 89.9 percent more than January 2011’s 346 and 76.6 percent up from December 2011’s 372
• Orange posted 1,952 filings, about 47 percent higher than January 2011’s 1,327 and 30.5 percent more than December 2011’s 1,496.
Experts had said more foreclosures were coming, once issues were resolved by banks, who in September 2010 halted thousands of filings when it discovered the automated steps used to repossess delinquent borrowers’ homes wasn’t being checked thoroughly.
“Although overall foreclosure activity was down from a year ago for the 16th straight month in January, we continue to see signs on a local and regional level that the frozen-up foreclosure process is beginning to thaw,” said RealtyTrac CEO Brandon Moore in a prepared statement. “Foreclosure activity increased on a year-over-year basis for the first time in more than 12 months in Florida, Illinois, Indiana and Pennsylvania, following a pattern we saw in late 2011 in states such as California, Arizona and Massachusetts.”
The Sunshine State, which ranked sixth nationwide for the most January filings, had a total of 24,783 filings, or one in every 363 households, last month. That was a 14 percent uptick from January 2011’s 7,558 filings, but was relatively flat when compared with December 2011.