Miami bank-owned properties up

Lenders have taken ownership of 217 percent more properties from borrowers in the greater Miami area in the first 45 days of 2008 than they did in the same period in 2007, a report from Condo Vultures said.

In January 2008, lenders took back 641 greater Miami properties, up 252 percent from January 2007, when 182 properties were taken back. In the first 15 days of February, lenders have taken back 217, up 138 percent from the 91 properties taken in February 2007, according to data gathered by the Bal Harbour-based real estate consultancy.