An increasing number of homeowners in Florida are facing foreclosed homes list as they default on their mortgage payments. In August, 62,401 foreclosure cases were reported in Florida.
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Bank repo homes aggravated various problems faced by bankrupt mortgage servicer Taylor Bean. Freddie Mac and Ginnie Mae suspended their guarantee partnership with Taylor Bean after HUD started its investigations of the lender's business practices.
Tampa home auctions are expected to continue surging because of increases in foreclosure filings in the area. A total of 6,681 foreclosures were filed in the Tampa Bay Area in February, a 10-percent increase from January.