More than half of Florida homeowners in default are 2 years overdue

More than half of Florida homeowners in foreclosure have not made a mortgage payment in two years or more. That’s higher than the national average and one indication of why banks are paying borrowers up to $20,000 to execute a short sale.

A new report from Jacksonville-based LPS Applied Analytics found that as of September, 56 percent of Florida’s mortgages in foreclosure are 24 months or more behind in payments, compared with 39 percent nationwide.

About 84 percent of Florida foreclosures are more than 18 months in arrears.

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fluidideas@gmail.com

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