Florida foreclosure action group heads to capitol

Florida Foreclosure & Real Estate News

Florida has been one of the states hardest hit by the foreclosure epidemic. According to sources there is one foreclosure for every 95 Florida households. While this number may not be as critical if these are only default notices- as opposed to actual Florida foreclosures, the numbers are still telling a story of a market backlash.

Just behind Michigan, Florida foreclosure rates were the second highest in the country last year. According to ForeclosureListingsFL.com, there are currently 16,026 active foreclosures in Florida.

Many claim that the majority of these defaulted loans fall into the subprime category- subprime lending, which has received much scrutiny as a result of the market downturn.

The Florida foreclosure activist group, ACORN met in Tallahassee recently to plead their case to legislators. The main claim by the group is the majority of those Florida homeowners facing foreclosure were victims of predatory lending. The group led a demonstration outside the Capitol Building with makeshift tents creating what they called a “Subprime City.”

ACORN and group supporters are calling for stronger consumer protection laws and harsher punishment for those with less than par lending practices.


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