Story Created: Feb 26, 2008 at 10:04 AM EDT
Story Updated: Feb 26, 2008 at 10:04 AM EDT
LOS ANGELES (AP) - The Cape Coral-Fort Myers area had the highest foreclosure rate of any metro area in the nation last month.
RealtyTrac, a mortgage research firm, says one of every 86 homes is in some stage of foreclosure in that part of Florida.
Nationwide, the number of homes facing foreclosure jumped 57 percent in January compared to a year ago, with lenders increasingly forced to take possession of homes they couldn't unload at auctions.
About 230,000 homes received at least one notice from lenders last month related to overdue payments, compared with almost 150,000 a year earlier. Nearly half of the total involved first-time default notices.
The worsening situation comes despite ongoing efforts by lenders to help borrowers manage their payments by modifying loan terms, working out long-term repayment plans and other actions.
Florida had more than 30,000 homes on the foreclosure track, up about 158 percent from a year earlier and down three percent versus December.
