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INCOMING! Florida Foreclosure Totals June 2012 compared to previous years' June totals

INCOMING! Florida Foreclosure Totals June 2012 compared to previous years' June totals

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Published by Foreclosure Hamlet

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Published by: Foreclosure Hamlet on Jun 30, 2012
Copyright:Attribution Non-commercial


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This increased push to foreclose, especially by trustees of residential mortgage-backed trusts, may be the single most important development in the American economy in 2012.
There was a dramatic increase in the number of new foreclosures inFlorida in June, 2012. In some cases, new filings reached an all timehigh. Bank of New York Mellon filed more new foreclosures inHillsborough County (the Tampa area) in June 2012 than in June of any of the preceding four years. In almost every county and for eachof the banks studied, there was an increase in new filings in June,2012 not just when compared with June, 2011. In some cases, thenew filings were the highest in five years.The dramatic increase was not consistent in all counties and with allbanks. Bank of New York Mellon and Bank of America were moreheavily engaged in filing new foreclosures than Citi, Deutsche andWells Fargo.The number of new Lis Pendens filed in the official county records of five Florida counties by five banks are reported below. The banks areBank of New York Mellon, Bank of America, Citi, Deutsche and WellsFargo.Bank of New York Mellon is the trustee for most of the CWABS andCWALT trusts, the Countrywide Trusts. Deutsche Bank is the trusteefor most of the American Home Mortgage Asset and Investment trusts,as well as many of the Soundview and Long Beach trusts. Wells Fargois the trustee for many of the Option One Trusts.The failures of these three sub-prime lenders, Countrywide, AmericanHome Mortgage and Option One, proved disastrous for the Americaneconomy. Even after five years, most bankers and their reportersrefuse to admit that mass foreclosures drive down home prices andresult in more foreclosures, creating a death spiral for borrowers,communities and investors. The counties chosen each have apopulation of at least one million people. This increased push toforeclose especially by trustees of residential mortgage-backed trustsmay be the single most important development in the Americaneconomy in 2012.
Bank of NY Mellon
 Broward County2012: 1692011: 212010: 942009: 3022008: 278Hillsborough County2012: 1562011: 312010: 972009: 1342008: 138Miami-Dade County2012: 2642011: 482010: 1082009: 3052008: 377Orange County2012: 1072011: 222010: 722009: 1482008: 184Palm Beach County2012: 2422011: 682010: 1212009: 1672008: 261
Bank of America
 Broward County2012: 1602011: 392010: 2902009: 3992008: 187
Hillsborough County2012: 2152011: 882010: 2192009: 2012008: 92Miami-Dade County2012: 3782011: 1352010: 3082009: 5472008: 244Orange County2012: 1642011: 532010: 1832009: 2212008: 94Palm Beach County2012: 2272011: 1122010: 1932009: 2602008: 223
Wells Fargo
 Broward County2012: 1852011: 1062010: 5772009: 3312008: 209Hillsborough County2012: 2562011: 1172010: 3692009: 2532008: 195

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