By DAVID ROYSE
THE NEWS SERVICE OF FLORIDA
THE CAPITAL, TALLAHASSEE, Dec. 16, 2010″¦Foreclosure filings dropped dramatically in Florida and around the country in November, though it was largely because mortgage companies halted much of their activity under scrutiny for processing errors, foreclosure tracker RealtyTrac reported on Thursday.
In Florida, foreclosures plunged 42 percent from October and were just under 38 percent lower than a year ago. One out of every 267 housing units received a foreclosure filing during the month, the California-based company said.
Both the 21 percent month-over-month decrease and 14 percent year-over-year decrease in foreclosure activity nationally were the biggest drops recorded since RealtyTrac began publishing the U.S. Foreclosure Report in January 2005.
With 32,938 properties receiving a foreclosure filing in November, Florida posted the second highest state total despite the 42 percent drop from October, RealtyTrac said. Default notices in Florida decreased 52 percent from the previous month, while scheduled auctions were down 46 percent and bank repossessions dropped 20 percent.
Big monthly drops in foreclosure activity in several Florida metro areas resulted in only one metro area in the state having a foreclosure rate ranking in the national top 10: Port St. Lucie at No. 10 with one in every 173 housing units receiving a foreclosure filing in November.
