PB Post: Florida Ranks 2nd in Foreclosures

A quarter of Florida mortgage borrowers behind on payments or in foreclosure
by Jeff Ostrowski

Fully 25.4 percent of Florida mortgage borrowers were at least a month behind on loan payments in the second quarter, the Mortgage Bankers Association says today.

The breakdown:

* 3.73% of loans were 30 days past due.
* 1.91% were 60 days past due.
* 5.16% were 90 days or more past due.
* 14.60% were in some stage of foreclosure.

The report looked at 3.5 million Florida mortgages. Nationally, Florida ranked second in foreclosures started (after Nevada) and first in foreclosure inventory.