Tampa foreclosure pace improves for second month

Tampa Bay continued its trend of declining foreclosure activity in November, despite rising foreclosures in the rest of the state. Area filings dropped 9 percent on a yearly basis and 1 percent from the previous month, according to RealtyTrac, the Calif.-based company that tracks mortgage activity. Tampa Bay's foreclosure rate in November was one filing for every 214 households. A filing is considered any default notice, scheduled foreclosure auction or bank repossession. Florida, on the other hand, saw an 8 percent increase in filings from the same month last year and an increase of 2 percent from the October. Florida edged out California as the state with the second-highest foreclosure rate in the nation.

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