IRVINE, Calif. – June 26, 2014 – According to RealtyTrac, Florida was home to one-third (48,630) of U.S. zombie foreclosures in the second quarter – properties in the foreclosure process in which the owner has moved out but the bank has not yet taken back the home. Other states in the top five include New York (12,666), New Jersey (12,170), Illinois (11,925), and Ohio (7,390)
Nationwide, 21 percent of properties in foreclosure – one in every five – is vacated by the owner before the foreclosure is completed. While high, the number is down 7 percent from first quarter 2014 and 16 percent from second quarter 2013.
Florida ranked second in the length of time a zombie home remains empty: 411 days. In first-place New York it's 418 days, with New Jersey (378 days), Illinois (272 days) and Hawaii (249 days) rounding out the top-five list.
By lender, Wells Fargo has the most zombie homes in the foreclosure process with 18,695, followed by Bank of America (15,175), Chase (10,312) and US BankCorp (10,141).
Fla. is home to 1/3 of U.S. zombie foreclosures
Nationwide, 21 percent of properties in foreclosure – one in every five – is vacated by the owner before the foreclosure is completed. While high, the number is down 7 percent from first quarter 2014 and 16 percent from second quarter 2013.
Florida ranked second in the length of time a zombie home remains empty: 411 days. In first-place New York it's 418 days, with New Jersey (378 days), Illinois (272 days) and Hawaii (249 days) rounding out the top-five list.
By lender, Wells Fargo has the most zombie homes in the foreclosure process with 18,695, followed by Bank of America (15,175), Chase (10,312) and US BankCorp (10,141).
Fla. is home to 1/3 of U.S. zombie foreclosures
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