10 States With The Most Delinquent Mortgages

10. North Carolina

• North Carolina is the only “nonrecourse” state on this list– If a North Carolina

homeowner defaults on a mortgage, the lender has no rights to go after his/her other assets

– This makes “strategic default” a more popular option in North Carolina

33,734 delinquent loans

Flickr/Ryaninc

9. Georgia

• Even though a lot of loans are delinquent, Georgia has one of the lowest rates of serious (90+ day) delinquencies– Just 13.2% of GA’s loans

are seriously delinquent (U.S. average is 30.8%)

40,285 delinquent loans

Flickr/Chuck Kohler

8. Ohio

• Even though there is still a high rate of delinquency, Ohio’s market has improved recently

• Ohio’s delinquency rate dropped from 7.9% to 6.5% of loans over the first three months of 2014.

41,547 delinquent loans

John Baden

7. Pennsylvania

• Pennsylvania’s delinquent homeowners are getting help; during the first quarter, the state had one of the highest rates of loan modifications in the country

48,983 delinquent loans

Wikipedia/ Jleon 310

6. Texas

• Texas has a relatively low inventory of foreclosed homes, so its market will be better able to absorb future foreclosures than many other states– For example, Florida has

more than 30,000 foreclosures on the market, compared with less than 3,000 in Texas

50,059 delinquent loans

Wikipedia/ Ergosum88

5. Illinois

• Even though there is still a ways to go, Illinois is one of the most improved housing markets of 2014– Total amount of

delinquent loans dropped 14.4% in the first quarter

58,569 delinquent loans

Wikipedia/ mindfrieze

4. New Jersey

• Not only does New Jersey have a lot of delinquent loans; it has the highest rate of serious (90+ days) delinquency in the country– 6.1% of ALL NJ loans

backed by Fannie Mae or Freddie Mac are seriously delinquent

72,379 delinquent loans

Wikipedia/ Ali Imran

3. California

• Even though California has the 3rd most delinquent loans, it is a relatively low percentage of the total (just over 2.1%)

• So, California is actually one of the healthier housing markets on the list

78,541 delinquent loans

Flickr/ Loren Javier

2. New York

• New York has a lot of delinquent loans, but they are also getting a lot of help– 6% of all foreclosure

prevention actions in 2014 have occurred on NY mortgages

83,956 delinquent loans

Wikipedia/ Terabass

1. Florida

• The high delinquency is no surprise, as Florida was one of the hardest-hit states during the mortgage crisis

• Additionally, the foreclosure process can take years in Florida

143,479 delinquent loans

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