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Fort Lauderdale Foreclosure Auctions Getting Speedier Online

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By : Allana Castro    99 or more times read
Fort Lauderdale foreclosure auctions are getting speedier as Broward County, where Fort Lauderdale is located, has been conducting its public auctions online since March.

The auction website offered over 500 homes on its launching and over 175 more units were readied for the next auction date. Before the launch date, over 2,200 people has registered to participate.

In May, foreclosure filings slowed down in Broward, but the total number was still high compared to other counties in the country. Nearly 6,800 Broward homes entered foreclosure in May, a relatively high number, but it was lower by 41 percent than the total in May 2009 and lower by six percent than the total in April.

Last year yielded nearly 52,000 foreclosure cases in the county, prompting county officials to look for ways to cut down the backlog and cut costs. So far, the easier access of prospective buyers to auctions foreclosures in Broward has helped cut down the number of cases.

Despite the role of online Fort Lauderdale foreclosure auctions in cutting case backlogs, they have been criticized by some housing advocates as a factor in the failure of a number of loan modification efforts. Homeowners trying to rescue their homes no longer have enough time to negotiate because the auction dates are getting earlier sale dates.

There are already 12 counties that are holding online home auctions in Florida, and the latest was Broward. In South Florida, the counties which are holding their auctions online are Broward, Miami-Dade and Palm Beach. The auctions are being conducted for them by the private contractor that has been running the auctions of their tax liens for many years.

So far, these counties have been reporting that the online systems have cut county costs and have cut their case backlogs. They just needed to put more warnings on their sites to prevent novices from committing mistakes in bidding.

It is hoped that the online Broward County public auctions will help accelerate the sale of properties listed for Fort Lauderdale foreclosure auctions.
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