In June, 6,292 homes went into foreclosure in Broward and 5,289 Miami homes
were foreclosed on in Miami-Dade.
As the mortgage crisis, made worse by tougher economic times, continued to claim overextended borrowers in the region, South Florida's ailing housing market was flooded with foreclosures in June.
Meanwhile, even as the bill faced new problem in the House, the U.S. Senate voted Thursday to advance a mortgage rescue to help hundreds of thousands of stressed homeowners.
The Senate passed the measure by a vote of 84-12, putting the election-year aid package on track for approval by the end of the week.
According to foreclosure data firm RealtyTrac, 6,292 homes went into foreclosure or were confiscated by lenders last month in Broward County, up 68% over June of last year and representing one of every 127 homes. The county ranked third in the state in the number of foreclosures, which rose 41% from May.
The rise was less dramatic in Miami-Dade, signaling a possible tapering off in problem loans.
Foreclosures in Florida were up 4% over the same period a year ago, and 9% over the month of May. They represented one of every 180 homes. The county ranked seventh statewide with 5,289 homes.
The data used by RealtyTrac includes lis pendens filings by lenders, also called pre-foreclosures, homes scheduled for auction and properties taken back by banks.
RealtyTrac reported last month that foreclosures in both Broward and Miami-Dade had fallen by 17% over the previous month, suggesting a possible tapering off of problem loans.
However, lawyers who file foreclosure actions on behalf of lenders said May numbers were likely an irregularity, since their offices were being flooded with new cases.
Because the economy is worsening, conditions may begin to cause more stressed borrowers into default, they said.
In June, the state as a whole saw the number of foreclosures surge 92% from over a year ago.
In Washington, the homeowner rescue measure is far from complete, with House leaders planning to rewrite key portions and the White House still threatening a veto.
The centerpiece of the plan would let the Federal Housing Administration back up to $300 billion in new loans to provide struggling homeowners with more affordable, fixed-rate mortgages.
It also will allow lenders, who agree to take a considerable loss on the mortgages, to recover at least some money and avoid a foreclosure.
The measure includes a long-sought modernization of the FHA and would create a new regulator and tighter controls on Fannie Mae and Freddie Mac, the government-sponsored mortgage giants.
It also would provide $14.5 billion in housing tax breaks, including a credit of up to $8,000 for first-time buyers.
Contributed by MLR Realty
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