Florida Leads Nation with 23% of Home Loans Past Due or in Foreclosure

If you are having difficulty making your monthly mortgage payment you are not alone. Florida leads the nation with a staggering 23 percent of its home loans past due or in foreclosure, according to the Mortgage Bankers Association. Almost 1 in 4 homes with a mortgage isn't paying!

Florida has approximately 3.5 million residential loans and 807,000 are delinquent or in foreclosure. The national delinquency rate (at least past due on one payment) is at 9.2% with the national foreclosure rate at 4.3%. These numbers are the highest in the history of the survey.

Delinquencies amoung prime borrowers with fixed-rate loans were increasing at the fastest pace. This is more of an indication that the economy is now having a significant impact on homeowners.

If you need help listing your home for sale please contact our office. If you think you owe more than your home is worth, talk with our 'Certified Distress Property Expert' (CDPE).

J.D.A.