Tampa Has Tenth Largest Increase In Unpaid Mortgages Nationally
The coronavirus pandemic continues to have an effect on homeownership.
At the end of May, over 4.1 million homeowners in the United States were late on their mortgage payments. The Tampa Bay Business Journal reports it's the highest number since 2011.
And the problem continues to grow in Florida - the percentage of homeowners in Tampa who did not pay their home loans in May grew by 5.3 percent, the 10th largest increase in the country.
Orlando was third with 7.3 percent, and Miami topped the nation with 9.6 percent.
Florida ranks fifth in the country for unpaid mortgages, as 10.5 percent of people with home loans are not current on their payments.
Florida’s numbers for May -- the last period measured by mortgage software company Black Knight, Inc. -- are up from April's 8.8 percent.
The national delinquency rate increased to 7.8 percent, its highest since 2011. But, because of forbearance programs due to the coronavirus, foreclosures nationwide hit a record low in May.
In terms of overall delinquency, Mississippi leads the nation with more than 12 percent of homeowners delinquent.
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