The national foreclosure fight has South Florida right at the top of the list of homeowners trying to win a tough battle.
Miami-Dade, Broward, and Palm Beach counties rank in first place with the nation's highest foreclosures in the third quarter of the year.
One in 41 homes in South Florida are affected by mortgage default and the sad news, it may not be getting any better. In South Florida, more than 58,600 homes are in default, according to RealtyTrac.
A few factors could shed light on why. This year, Florida beefed up the number of judges hired to hear foreclosure cases. Experts say unemployment, under-employment, bad loans and negative equity are all players in this national crisis.
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Chicago falls in third place in the foreclosure fight with more than 44,000 homes in default. Los Angeles is in second place with more than 48,000.
South Florida is also in the top 10 when it comes to foreclosures per household. Las Vegas tops this list with one in every 25 homes forced to foreclose. The Cape-Coral/Fort Myers area is second with one in every 35 homes affected.
This could be just the tip of the iceberg. Experts expect mortgage defaults to jump when lenders lift freezes on foreclosures put in place recently due to paperwork problems.
