The Real Deal Miami

Mortgage woes keep rising

September 08, 2008 10:44AM

Florida loan defaults rose again in the second quarter, leaving the state at nearly double the national average rate of foreclosures, according to the Mortgage Bankers Association. More than 78,500 new homes were in danger of repossession in the state, the MBA’s report said. Florida’s foreclosure rate rose to 6 percent as of June 30, up from 4.61 percent in the first quarter. Nevada ranked second with 4.92 percent. An additional 273,000 Florida homeowners were behind in their mortgage payments by a month or more, about 25,000 more than in the previous quarter.