More Tampa Bay residents stop paying mortgages

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APRIL 07, 2010

Me no like this. Remember that this represents the current stock of delinquent loans, not the percentage of new bad loans hitting the market in a given month. What this says is that the banking and court systems can't process foreclosures fast enough to make room for the new defaults entering the system. Any way you measure it, it's not good news for the Tampa Bay housing market.

Tampa-St. Petersburg-Clearwater, FL	90+ Day Delinquency Rate	Foreclosure Rate	REO Rate
February 2010	16.96%	9.95%	0.48%
January 2010	16.33%	9.56%	0.48%
December 2009	15.67%	9.17%	0.49%
November 2009	15.27%	8.96%	0.50%
October 2009	14.74%	8.75%	0.49%
September 2009	14.21%	8.45%	0.49%
August 2009	13.60%	8.23%	0.41%
July 2009	12.94%	7.96%	0.42%
June 2009	12.56%	7.72%	0.49%
May 2009	12.13%	7.47%	0.49%
April 2009	11.70%	7.14%	0.51%
March 2009	11.17%	6.76%	0.53%
February 2009	10.84%	6.32%	0.60%
January 2009	10.38%	5.98%	0.62%

Source: First American CoreLogic.

Posted by James Thorner at 11:40:45 am on April 07, 2010 in

Foreclosure

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