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Tampa Bay-Lakeland
Business Observer Tuesday, Jun. 28, 2011 11 years ago

Foreclosures up in April

Tampa and Sarasota's foreclosure rates increased by two percentage points.

Roughly 12% of all outstanding mortgage loans in Southwest Florida's three major metros — Tampa-St. Petersburg-Clearwater, North Port-Bradenton-Sarasota, and Cape Coral-Fort Myers — were in some state of foreclosure in April, according to the latest data from CoreLogic.

That's a slight decrease for Fort Myers, down from 12.76% in April 2010 to 12.06% in the same month this year. But rates in Tampa and Sarasota are up about 2% each, to 11.93% and 12.09% respectively.

The national foreclosure rate for outstanding mortgage loans is 3.47%, CoreLogic estimates.

Across Florida, roughly 18% of mortgage borrowers are more than 90 days delinquent on payments, including those in foreclosure. The 90-day delinquency rate in Fort Myers is slightly higher than the statewide rate, at 18.28%. Sarasota's rate is 16.48%, while Tampa's is 16.90%.

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