Florida leads nation in foreclosures as Punta Gorda homeowners struggle

PUNTA GORDA, Fla. (WINK)—Florida is leading the nation in foreclosure filings as more homeowners struggle with rising housing costs, according to new data from real estate data analytics firm ATTOM Data.

Data shows foreclosures across the country are up 14% from a year ago. In Punta Gorda, 1 in 416 housing units has filed for foreclosure.

Neighbors in Punta Gorda told WINK News they feel recent storms have impacted homeowners. With repairs and rebuilding on top of insurance and property taxes, it's no surprise Floridians are struggling to make payments.

Lisa Salvato, a homeowner in Punta Gorda, said her first experience in the area was incredible.

"My first experience was the most incredible, and just being able to walk around town, people were so friendly and embracing," Salvato said.

Salvato and her neighbor, Marlee, love living in and owning homes in Punta Gorda.

"I love the town; it's small, it's historic, it's waterfront," Marlee said.

Recent data from ATTOM Data shows that 1 in 416 housing units in Punta Gorda had a foreclosure filing. In addition, Florida led the nation in foreclosure filings last month.

"Your heart goes out to some of the people who had to deal with the struggle of recovery, and we still have friends who are still struggling to recover," Salvato said.

Both neighbors in Punta Gorda say they feel storms have made it harder for people to keep up payments.

"They can't financially rebuild, so they're leaving because of that, so I am seeing them on the market, but it's also bringing in people who've always wanted to live in this area," Marlee said.

Joseph Ciarla, broker and owner of Anytime Realty, says rising costs across the board also play a role.

"The cost of living, our taxes, our insurance, our energy bills—like the last two or three years have gone up a lot, and I think it's tough," Ciarla said.

There are ways homeowners can protect themselves from having to file for foreclosure. Stefanie Wilfong Steely, a real estate agent with Starlink Realty, says the lender sometimes works with homeowners to complete a short sale rather than a foreclosure.

"Sometimes the lender will work with them to do a short sale instead of a foreclosure, which will help you save their credit a lot. So that's a really good option," Wilfong Steely said.

Wilfong Steely says the faster a homeowner takes action, the better the results will be.

"Sometimes they'll give you other options for refinancing if you do still have equity in the home," Wilfong Steely said.

Wilfong Steely says it's really up to the bank or lender that holds the loan, but there are many options. The faster a homeowner reaches out to their lender to find a solution, the quicker they can save their credit and possibly their home.

ATTOM's CEO says that while foreclosures are up in the state over the past year, filings are far below levels seen during the 2008 housing crisis.