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02/17/11

Florida's Foreclosure Rate is Nation's Highest

More than 14 percent of Florida’s mortgages were in foreclosure in the fourth quarter of 2010, and an additional 5.2 percent were more than 90 days behind on payments, the MBA report found.

“More than 20 percent of all loans in Florida are somewhere past due or somewhere in foreclosure,” said Mike Fratantoni, vice president of the MBA.

That’s the highest level of at-risk properties in the nation and Florida’s foreclosure inventory is up 0.5 percent from the previous quarter. The national delinquency rate is 8.2 percent, down 0.9 percent from the previous quarter.


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