South Florida was hit significantly harder by the 2008 mortgage, housing, banking and economic crises than most other regions of the U.S. While conditions have improved from the depths of the crises, South Florida continues to lag behind the nation as a whole in the housing market recovery.
Miami-Dade, Broward and Palm Beach counties saw 1,644,832 cases filed in fiscal year 2013-2014. That’s almost as much as the rest of the state combined.
Federal investigators say Florida has consistently “under-performed” other states in using federal mortgage assistance money to help desperate homeowners facing foreclosure. The Treasury Department must adopt a “sense of urgency” to ramp up the effectiveness of Florida’s assistance in the remaining two years.