Anyone could have seen this coming. From March to April, the number of new foreclosure filings skyrocketed throughout South Florida.
“Foreclosure filings soared in Miami-Dade by 111 percent between March and April, according to RealtyTrac, a private foreclosure tracking firm. Broward foreclosures surged 124 percent between March and April. Compared to April 2008, foreclosures were up around 90 percent in both counties.”
The interesting thing in the Miami Herald article is that there is only a cursory reference to the big bank moratorium which ended in March. The April to May numbers will be much more interesting in my opinion.