Here is what Sun Sentinel reports on South Florida real estate foreclosures

The housing slump and foreclosure crisis are having a devastating effect on many neighborhoods across the region. Neighbors are left to look out at weeds and overgrown shrubs, at least until lenders unload the foreclosed homes at a loss, potentially reducing nearby property values. In other cases, residents are being hit with higher homeowners association fees to make up for those who are not paying.

“As defaults mount, the pain spreads,” said Mike Larson, a housing analyst with Weiss Research in Jupiter. “Nobody wins in foreclosure. Not the lender, not the borrower and, unfortunately, not the neighbors, either.”

The number of homeowners facing foreclosure more than tripled in South Florida last year, many becoming overwhelmed when their adjustable-rate mortgages reset much higher.