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Foreclosure Starts Spike In FL After Months Of Decline

After almost a year of month-to-month declines, new foreclosure starts in Florida rose in July.

The research firm Realty Trac reported last week that foreclosure starts increased 16 percent in July from the previous July.

Florida had the nation's highest foreclosure rate in July, with 1 in 408 homes having a foreclosure filing.

Florida's foreclosure rate had declined for the 10 previous months.

Realty Trac spokeswoman Ginny Walker says the July jump is likely a one-month anomaly.

But she says there may be more foreclosures down the road after the Florida Supreme Court makes a ruling on whether there is a statute of limitations to foreclosures in the state.

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