Foreclosures create massive number of vacant homes.

How would you like to live near Disney World? Now’s the time to get a bargain. The Orlando area leads the nation in home vacancies. An incredible 7.4% of all homes in that area are now vacant, looking for a buyer. There are some incredible bargains sitting there. Other Florida markets with large percentages of homes lying vacant include Tampa/St.Pete (5.1%), Jacksonville (4.6%) and Miami/Fort Lauderdale (4.4%). Not even on the top ten is Lee County, where I sit as I am writing this, including Fort Myers and Cape Coral. Lee County has 2,300 vacant homes looking for buyers and a real estate dealer who will take you on a tour of some of the best ones in a colorful bus.

Other top ten cities include Las Vegas, Atlanta, Akron, Cleveland, Bridgeport and Indianapolis, all above 4%. The national average vacancy rate is 2.8%, matching the record first set last year, according to new data from the US Census Department.

You would think that these numbers would be strong motivation for lenders to make deals for foreclosure prevention wherever they could. Vacant houses attract thieves (who strip the home of its copper and anything else they can sell), and drug addicts and, in the end, all sorts of animals looking for shelter. Often they need to be completely redone or even bulldozed. This increases the losses absorbed by the lender who foreclosed on the house.

If you are behind in your payments, get to know the vacancy rate in your community and use it in your negotiations with your lender. Wouldn’t they rather have you living in the house at reduced payments than feral cats, rats or squirrels?

Find out how to Get Free Help to Avoid Foreclosure and Obtain Mortgage Modifications.

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