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News Story
Updated: 12/06/2017 08:30:04AM

Foreclosures fading away

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GARY ROBERTS

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With Hurricane Irma hitting the pause button on Florida homes thrown into default, the traditional holiday grace period will ensure that new foreclosures remain at the lowest levels in more than a dozen years.

In the aftermath of Irma, which struck Sept. 10, foreclosure starts receded as mortgage giants Fannie Mae and Freddie Mac instituted a three-month suspension of foreclosure sales. As a result, Charlotte County had just 16 new foreclosures in September, followed by 18 in October — numbers not seen locally since 2003.

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