Reply #42: Nearly 17 percent of Tampa homeowners three months behind on mortgage

[Dr.Phool]

Nearly 17 percent of Tampa homeowners three months behind on mortgage

By James Thorner, Times Staff Writer
In Print: Thursday, April 8, 2010


Times Staff

Nearly 17 percent of Tampa Bay homeowners haven't paid their mortgages for at least three months.

The February report by First American CoreLogic shows mortgage delinquencies rising steadily for more than a year. From February 2009 to February 2010, delinquencies increased from 10.84 percent to 16.96 percent of all residential mortgages, making mincemeat of such government anti-foreclosure measures as Making Home Affordable. Florida's 90-day delinquency rate was even worse at 19.39 percent. The U.S. rate was 8.78 percent.

Unusually high unemployment, combined with stiff housing depreciation, has pushed more homeowners into default.

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One in every five mortgages in this state are at least 90 days late. I don't think very many of them will be able to make up the difference. Boy, I'm glad the recession is over.

That must be what our illustrious legislature, probably the most corrupt in the nation, is thinking with a bill moving through now, that WILL ALLOW BANKS TO FORECLOSE WITHOUT GOING TO COURT!!! And it will pass. No more challenges to in court. They've even foreclosed on a couple of houses here, that didn't even have mortgages!