Foreclosure Actions Up in Sarasota and Charlotte Counties

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In Sarasota County, foreclosures were down 33 percent from December but up 20 percent from January 2009. Charlotte County's foreclosure actions were down 10 percent from December but up 44 percent from a year ago, according data released Wednesday by California-based RealtyTrac Inc.

The three counties began 2010 among the worst communities in the state for new filings, with the per-capita rate of foreclosure ranking Charlotte fifth, Manatee eighth and Sarasota County 14th among Florida's 67 counties.

"Unfortunately, it's not a surprise," said Sean Snaith, a University of Central Florida economist who has been warning of an impending foreclosure deluge for months.

"When all of this started, it was driven by mortgages and how they were structured," Snaith said. "Now we're seeing traditional causes for foreclosure like unemployment come strongly into play."

Lewis M. Goodkin, president of Miami-based Goodkin Consulting, agreed that things will get worse before they get better so long as Southwest Florida's unemployment rate remains in double digits.