The Real Deal Miami

Florida key to mortgage crisis

September 08, 2008 11:07AM

The chief economist of the Mortgage Bankers Association says the mortgage crisis won’t see a turnaround until the woes of Florida and California are reversed. Florida leads the nation with 13.68 percent of homeowners late on their house payments or facing foreclosure, according to a survey from the Washington D.C.-based trade group. Palm Beach and Broward counties have the worst rates within the state, the group said.