Orlando remains among top cities for foreclosures

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Aloysius Patrimonio

Metro Orlando ranked No. 2 in the nation for foreclosure fillings in October.

Megan Ribbens

Web Producer- Orlando Business Journal

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Although foreclosure activity in metro Orlando decreased both annually and monthly, the region's foreclosure rate in October still remains among the highest in the nation, according to a new report from RealtyTrac.

One in every 394 housing units in Orlando had a foreclosures filing in October — the second-highest in the U.S. and nearly three times the national average, according to the report.

In addition, Florida's largest metro areas rounded out the top four markets for foreclosures in October, with Miami taking the top spot, while Tampa and Jacksonville ranked third and fourth, respectively.

RealtyTrac counts new lawsuits, judgments and repossessions as foreclosure filings. The company said banks typically ramp up foreclosures in October to avoid the holiday foreclosure moratoriums.

There were 2,389 foreclosure filings in Central Florida in October, down 15 percent from September and down 13 percent from the year-ago period.

In addition, completed foreclosures were up 23 percent in Orlando and foreclosure auctions in Central Florida increased 33 percent.

See the full RealtyTrac report here.