Foreclosure rates in Hillsborough, Pinellas and Pasco County, Florida are already in grossly unsustainable levels.  And the “foreclosure crisis” will not be solved by “clearing the backlog” of foreclosure cases that that are “clogging the pipeline”.

There are approximately 30,000 foreclosure cases currently pending in Pinellas County alone

There are who knows, 100,000-200,000 additional homes that could be in foreclosure if all the banks filed foreclosure against properties that were 90-120 days late or hadn’t paid property taxes….or didn’t pay insurance.

The truth is the policy makers have no real clue what the real number of homes that are sitting in technical default, against which a foreclosure could be filed, but it has not been filed.

But soon, as soon as people wake up to realize the devastating impact that foreclosure and the Biggert Waters Flood Insurance will have on this entire region.

Hold on folks…we won’t need an actual flood to devastate communities…it’s happening already.

Here is a link to the FEMA maps here, have a look and see your property.

And yet read the following article the suggests this is all ok:

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