Foreclosures spike; Florida among worst

Homeowners across the United States are increasingly having trouble making their mortgage payments on time, but borrowers in metro areas of Florida, California and other once-booming housing markets are accounting for the biggest spikes in foreclosure filings, according to a mortgage research company. RealtyTrac, in Irvine, Calif., calculates its foreclosure rate ranking by comparing the number of households in a metro area with the number of foreclosure filings, which include notices of default, auction sale notices or bank repossessions. Stockton, about 83 miles east of San Francisco, had the highest foreclosure rate in the third quarter among the top 100 metro areas, with one foreclosure filing for every 31 households, RealtyTrac said. Detroit was second, with one foreclosure filing for every 33 households. The Riverside-San Bernardino metro area, located about 60 miles east of Los Angeles, was third, with one filing for every 43 households. Among Florida metro areas, Fort Lauderdale was ranked fourth and Miami was ranked eighth.

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