Broward leads the state in August Florida foreclosures

A recent study showed that Florida foreclosure filings were up 245% in August, with Broward County leading the trend. 
Florida foreclosures were up 6,179, up from 1,792 in August 2006.

Broward County was up 615% in August with 1,965 foreclosure filings from 275 the year before. Miami-Dade County, with 996 foreclosures, was next in the state, up 70% from 585 in August 2006.

Palm Beach County was up, with 808 foreclosures, from 122 in August 2006. The Default Research President and Serdar Bankaci said in a release, "With home sales hitting a five-year low, we can expect the foreclosure activity in Florida to continue to increase for months,”.  When the real estate market was hot, Investors flocked to Florida buying properties left and right to turn profits. Now these investors are stuck with homes they can't sell. Most of these people have no option but to walk away from their properties as the adjustable rate mortgages reset.