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Florida leads the nation in foreclosures


Foreclosures.jpg

One out of four Florida home mortgages is in foreclosure or delinquent.

The third quarter report from the Mortgage Bankers Association brings almost too much precision to the picture of the foreclosure crisis.

Nationwide, more than 4 million home mortgage borrowers are behind on their payments.

In Florida, we have 441,440 home loans in foreclosure and 422,036 that are delinquent.

The Florida foreclosure rate is the highest in the nation. And the combination of the foreclosure and delinquency rate is also the highest.

A total of 12.18 percent of home mortgages in Florida were delinquent and 12.74 were in foreclosure in the third quarter.

That's up from 10.8 percent delinquent and 11.96 percent in foreclosure in the second quarter.

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Comments

What are the statistics for Broward?


In September, (the most recent number I have), 20.74 percent of loans in Broward were 90 days late and 12.51 percent were in foreclosure. Info comes from a different source, a smaller sample. But that's the best I can give ya.


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Hi, nice and informative post, thank you very much for putting the points in a plain and easy way. Once again thank you.


Wait till 2011,Ya better get out while the getting is no GOOD,It will drop another 40% By 2011 Trust ME.....Worthless DOLLAR,And WAY WAY overvalued BLOCK AND WOOD.....DUMP EM NOW


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About the author
You've got the job of managing your money. No one in school taught you how. But you and I, we can teach each other, how to handle it, how to save for retirement, how to make money last, how to educate the kids, how to make a budget work. The conversations I have with my readers are fun. Money's important, but discussing it does not have to be boring.

Harriet Johnson Brackey Harriet Johnson Brackey, the personal finance columnist for the Sun Sentinel, is an award-winning business reporter. Her columns for 2008 were named "The Best in the Business," a national award chosen by her colleagues at the Society of American Business Editors and Writers.

Brackey has worked at Business Week magazine and at USA TODAY, where she was a founder and part of the original staff of the Money section at the country's first national newspaper. After nearly 11 years there - spent covering the 1980s bull market, the insider trading scandals, the 1987 crash - Brackey left Washington, D.C., and came to The Miami Herald. She spent the next decade writing a column about personal finance that chronicled the stock market's Internet boom and bust, as well as the popular Money Makeover features.

Brackey also has done commentaries for Marketplace Money, which airs on National Public Radio and The Nightly Business Report which is broadcast on more than 250 PBS television stations nationwide. She also has been a radio guest on WLRN’s Miami Herald News.
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