WORLD PROPERTY CHANNEL ®

(MIAMI, FL) -- Lenders are filing an average 233 daily foreclosure actions against home owners in Miami-Dade, Broward and Palm Beach counties, according to a new report from the Condo Vultures Foreclosure Database.

For all of November, the count was more than 7,000. That figure represents a 15 percent increase over the 6,085 filings in November 2008 and a 76 percent increase over the 3,986 actions submitted in November 2007, according to the report produced using government records.

The total foreclosure filings in the three counties for all of 2009 is expected to be 97,000.That figure is down from more than 100,000 actions at the end of the second quarter on June 30. By comparison, lenders filed 75,000 foreclosure actions for the year of 2008 and 33,000 for the year of 2007.

Peter Zalewski

"South Florida foreclosures continue to increase on a daily basis but just at slower pace than was being realized in the first half of 2009," says Peter Zalewski, a principal with the Bal Harbour, Fla.-based real estate consultancy Condo Vultures.

"A key reason for the slowing actions may be the sudden willingness of lenders to permit short sales by owners who owe more than their properties are worth. This philosophical adjustment by lenders is effecting the number of properties that are ultimately going into foreclosure and being repossessed by lenders."

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