Foreclosures Up 1% In Lee County Florida

Lee County foreclosures up 1 percent
By DICK HOGAN • dhogan@news-press.com • November 2, 2009

There were 1,628 foreclosure actions filed in Lee circuit court in October, up 1 percent from September's 1,610 but down 40 percent from the all-time high of 2,665 in October 2008, according to statistics released today by the Southwest Florida Real Estate Investment Association.

The number of foreclosures in Lee County started to increase three years ago after the residential real estate boom ended in late 2005 and prices started to decline. Since October 2008, the number filed monthly has generally been declining.

According to the association's report, 1,403 certificates of title were conveyed by the Lee clerk of court in October - that occurs when a property is sold on the courthouse steps to satisfy the mortgage after a final order is issued in a foreclosure lawsuit.