mrdowntown

The subprime mortgage crisis in the United States showed some of the lending problems that were prevalent in the United States. Unfortunately, this then led to the global financial crisis, which hit hard on many economies throughout the world.

The state of Florida real estate also exhibited some issues when it came to the mortgage delinquency rate in recent years. In 2008, for example, Florida was declared as having the highest mortgage delinquency rate in the country. During that time, 7.8% of mortgages were delinquent for at least 60 days. The housing market of Florida was hit very hard in about 2009 according to national surveys. In 2009, there were close to 300,000 delinquent loans while there were over 80,000 foreclosures.

This entry was posted on Monday, January 17th, 2011 at 9:10 pm and is filed under Florida Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.