[CITY] Real Estate News

"WASHINGTON – Nov. 19, 2010 – Florida still leads the nation in the percentage of homeowners who are “seriously delinquent” on their loans, the Mortgage Bankers Association said Thursday.

In the state, 19.52 percent of borrowers were either 90 days past due or in foreclosure in the third quarter. Add in borrowers who are 30 and 60 days late, and nearly one in four Floridians are behind on their loans."

After reading the above in a local publication I had to stop and wonder how accurate many of the recent statistics really are.

In California where the mortgage company can't come after you for any deficiency many people are just walking away.  Where are those stats?

Here as in most places if you want to renegotiate your loan in ANY way, you contact the mortgage company, tell them your needs and why, and then they put you on a partial payment plan until they can look over your request.  Well guess what, these partial payments go as delinquent or late on your record and are reported as such. 

Although Florida was foremost in the boom we do have a great number of loans upside down, but there are also those who's homes are not upside down but due to economic reasons need to renegotiate their loans.  It is just unfortunate that EVERYONE must suffer the stigma of being late or delinquent in order to get some relief.