Lists of federal homes are still escalating in the Tampa Bay area, as foreclosures have nearly grown twice in Greater Tampa since January 2009. Federal foreclosures have also grown, as the default rate for mortgages backed by the Federal Housing Administration, Fannie Mae, Freddie Mac and other federal agencies have grown. Additionally, the share of federal agencies in all the mortgages being provided nationwide has been growing rapidly.
Foreclosure listings in Tampa have been rising as the number of homeowners in default by over three months continues to surge in the area, twice faster than the nationwide average. In May, the percentage of homeowners in default by three months or more has reached 16.5 percent, a substantial jump from 12.2 percent in May 2009. The growth in listing of foreclosures has risen from 7.5 percent in May last year to 10.6 percent in May this year.
Nationwide, the lists of federal homes continue to rise. As of the end of June, a total of 163,828 homes are already in the foreclosure listings of Fannie Mae and Freddie Mac. As of May, more than 6.1 million units of single-family homes and 13,000 multifamily properties are in the mortgage portfolio of FHA, and a substantial portion of these are already in default.
In addition, for the period January to March, the federal agencies FHA, Fannie Mae and Freddie Mac already have 209,500 residential units in their listings of repossessed properties, a staggering 59 percent jump from the same period last year and a 22-percent increase from 172,357 in the preceding quarter.
Among the three agencies, Fannie Mae posted the biggest number of repossessed units, with a total of 109,989 units, making up more than 52 percent of the total REOs held by the three agencies. As Florida has been among the hardest hit states, a substantial portion of units in lists of federal homes are also in Florida foreclosure listings, with many of these units located in the Tampa area and in South Florida.
Search bank owned foreclosures in Florida cities:
- Miami bank owned foreclosures
- Orlando bank owned foreclosures
- Jacksonville bank owned foreclosures
- Fort Lauderdale bank owned foreclosures
- Pompano Beach bank owned foreclosures
Related Posts:
- Lists of Freddie Mac Foreclosures Growing in Seattle
- List of Fannie Mae Foreclosures in Fave City of Santa Monica
- Foreclosed Homes HUD Inventory Rising
- Lists of Government Foreclosures Getting Longer in Every U.S. City
- Finding Freddie Mac Foreclosure Listings of Arizona Homes
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