Florida Leads Nation in Foreclosure Rate

florida foreclosure
florida foreclosure

If the state of Florida were a brand, its symbols would be orange juice, Art Deco architecture and, unfortunately, delinquent mortgages. In the last quarter of 2010, more than 24% of home loans in Florida were in some stage of delinquency or foreclosure, according to the Mortgage Bankers' Association's recently released National Delinquency Survey.

About 14% of Florida homes are actively in foreclosure, it says, meaning that a foreclosure action has been initiated by the lender but the mortgage has not been sold via foreclosure sale, nor has it been brought current by the homeowner or a workout such as a loan modification or short sale.