LAKELAND, Fla. — While the country saw a drop in foreclosures last year, recent data shows Florida's rates jumped to the highest in the nation. The metropolitan area with the most filings was the city of Lakeland.

According to the real estate analytics firm ATTOM, one in every 172 Lakeland homes was foreclosed on in 2024. The statistics didn’t come as a surprise to real estate broker Bob Miller, who knows firsthand how it feels to lose a home.

“Back in 2008, when the market crashed, we had actually lost our house,” he said. “What got me involved is we had enough money to pay the mortgage, but the attorney’s fees had gotten so high that I really felt it was unfair and really made me want to get a part of the system and figure out how to help other people.”

Miller points to factors like high interest rates and the impact of Polk County’s growing population on prices as reasons for the filings. But he says the number one contributor is insurance premiums.

“They’re just getting totally out of hand. Most people are seeing an increase in their payments between 30 to 50% of their monthly payments, and people just can’t take it anymore,” he said.

Rather than giving up, Miller advises homeowners to shop around for insurance. If that doesn’t work, he says to pick up the phone and call your bank.

“When the bank has no knowledge, they’re forced to hire an attorney,” Miller said. “They’re forced to get someone to contact you. And once the attorney gets involved, those payments are going to be 50%, if not 100%, as much as you owe the bank.”

Miller also recommends contacting a real estate attorney or licensed broker if you need help. Most importantly, he says to remember there are options.

“The worst thing for you to do is sit there and let the bank move on you. They don’t want your house, but if you force their hand, they have no option,” he said.

Miller is confident the city will bounce back from the high foreclosure rates. He assures that the current numbers aren’t as high as they were in 2008.