Foreclosure filings drop in Lee County in November

For-sale signs: With such a backlog of foreclosures and the market trying to rebound, how many will be in yards? And how far will the prices plummet to make them disappear? NDN file photo

For-sale signs: With such a backlog of foreclosures and the market trying to rebound, how many will be in yards? And how far will the prices plummet to make them disappear? NDN file photo

Lee County saw a drop in new foreclosure filings in November.

There were 587 filings, down from 642 in October, according to a report by the Lee County Clerk’s Office.

However, last month’s filings were up from a year ago, when there were 345. Nationwide, filings slowed at the end of last year amid the “robo-signing” scandal.

Of the total filings last month in Lee, 15 were for commercial properties. Most – 327 – were for properties with a homestead exemption, indicating it’s a primary home.

There were 20 deficiency judgments last month. There have been 214 this year. With the judgments, lenders in Florida have the legal right to collect the difference between what was owed on a mortgage and the fair market value of the property on the day of the foreclosure auction.

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