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 ...
9. Georgia
• Even though a lot of
loans are delinquent,
Georgia has one of
the lowest rates of
serious (90+ day)
delinquen...
8. Ohio
• Even though there is still
a high rate of
delinquency, Ohio’s
market has improved
recently
• Ohio’s delinquency ...
7. Pennsylvania
• Pennsylvania’s
delinquent
homeowners are
getting help; during
the first quarter, the
state had one of th...
6. Texas
• Texas has a relatively low
inventory of foreclosed
homes, so its market will
be better able to absorb
future fo...
5. Illinois
• Even though there is
still a ways to go,
Illinois is one of the
most improved
housing markets of
2014
– Tota...
4. New Jersey
• Not only does New
Jersey have a lot of
delinquent loans; it has
the highest rate of
serious (90+ days)
del...
3. California
• Even though California
has the 3rd most
delinquent loans, it is a
relatively low
percentage of the total
(...
2. New York
• New York has a lot of
delinquent loans, but
they are also getting
a lot of help
– 6% of all foreclosure
prev...
1. Florida
• The high delinquency is
no surprise, as Florida
was one of the hardest-
hit states during the
mortgage crisis...
Warren Buffett is scared of this
new technology, but you can
make money!
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10 states with high mortgage delinquency

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10 states with high mortgage delinquency

  1. 1. 10 States With The Most Delinquent Mortgages
  2. 2. 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
  3. 3. 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
  4. 4. 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
  5. 5. 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. 6. 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
  7. 7. 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
  8. 8. 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
  9. 9. 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
  10. 10. 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
  11. 11. 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 Public domain
  12. 12. Warren Buffett is scared of this new technology, but you can make money!

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