Ormond Beach is drained by the River Tomika and is near the lagoon of Halifax River near the Atlantic. Ormond Beach City is in Volusia County of Florida. In 2000 it had a population of 36,301 that increased to 37,929 in 2004 indicating the prosperity and economic health of the city. Tomoka State Park is in Ormond Beach. Once upon a time this area was home to the Timucuan Indians. Their village is today the State Park. Today Ormond Beach foreclosure homes are eating into the entrails of the area. James Ormond a Scottish sea captain under the commission of the Spanish King gave his name to the city. He brought Franciscan settlers to these regions of Florida. Today Ormond Beach foreclosure homes are dominating the scene. This chapter in its history may be called the age of Ormond Beach foreclosure homes.

It is strange that Ormond Beach foreclosure homes should haunt a place that boasts of being the one time home of the industrialist John. D. Rockefeller. In Ormond Beach till the crisis began to rage the real estate market in commercial and residential properties was very active. The manufacturers basked in a vigorous business environment and engaged in global deals. The foreign trade zone hosted 29 companies. The working class is educated and keen about productivity and competition. Only 10% are underemployed. Colleges, universities and a technology centre back business needs. It defeats reason as to why in such a healthy climate Ormond Beach foreclosure homes sneaked in. Ormond Beach foreclosure homes not only crept in –these are now thriving pushing the people to despair and the economy to gloom.

One can still be allowed to drive down some parts of the beach only to see the gloomy picture of vacant Ormond Beach foreclosure homes. Ormond Beach foreclosure homes are an inevitable fall out of what is happening in the rest of Florida State.

The foreclosure is a judicial process. By it the lender realizes unpaid dues from the borrower by foreclosing on the mortgaged house. Today there are hundreds of Ormond Beach foreclosure homes. Some opine that the very prosperity of Florida led to it leading in foreclosures. Others say that the minorities were the targets of predatory sub-prime mortgages. But in this region about 94% are Whites and this cannot be a major reason for Ormond Beach foreclosure homes. Like the rest of the country Ormond Beach foreclosure homes are a result of the failure of the sub-prime mortgage programme.

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