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Clearwater Real Estate News | Guess What Percentage Of Tampa Mortgages Are Paid On-Time?

Clearwater Florida Real Estate News

Clearwater Florida – The current economic conditions are being felt all over and it’s also being seen in the rise in mortgage delinquencies nationwide, but the mortgage news may not be as bad as it appears at first glance.
Mortgages 60 days past due, as reported by TransUnion

Using anonymous data from its national credit database, TransUnion reports that 4.58 percent of American homeowners were at least 60 days past due on mortgage payments last quarter.

Comparing the statistic to the data from a year ago, the credit reporting agency goes on to say that mortgage delinquencies are up 53 percent and Florida is adding to this.

Although fair, the comparison carries a distinct, negative connotation because if we flip the data to its positive, the statistics don’t seem nearly as menacing.

Consider: In the last quarter of 2008, 4.58 percent of all  homeowners were delinquent on their respective mortgages.  The positive sign, therefore, is that 95.42 percent of home owners were not delinquent on their home loans.

Furthermore, in looking at TransUnion’s data for the 5 largest states in the Union, it’s clear that the national delinquency rate is being skewed by California and Florida.  New York and Texas, for example, exhibit delinquency rates below the national 4.58 percent marker.

North Dakota’s delinquency rate hovers near 1 percent.

Headlines are designed to attract eyeballs and nothing else – they seem to focus on the fact that the “glass is half empty” . To get the complete story, therefore — the real story — it never hurts to dig a little deeper into the facts. Even looking at Florida’s numbers – why doesn’t the news ever mention the 91%+ of  Florida home owners that are paying their bills on time.    When looking at “the glass as half full” we see that their are great bargains for Clearwater  home buyers buying now, especially for first time home buyers (anyone who hasn’t owned a home in 3 years)  qualifying for the $8000 tax credit for property purchases in 2009 (need more info on this just ask us).

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Copyright © 2007-2009 Jack and Cyndee Haydon, Clearwater REALTORS and your Clearwater Real Estate Consultants specializing in Clearwater St Petersburg Tampa Florida Real Estate and may not be copied, reproduced, distributed, transmitted, displayed or published.

(Image courtesy: TransUnion)


About Cyndee Haydon

Cyndee Haydon, Realtor with Future Home Realty specializing in luxury waterfront and beach homes of Clearwater Beach - St Pete - Tampa Bay area with her husband and partner, Jack Haydon Cyndee's Google Profile

  1. Kevin Sandridge

    “The positive sign, therefore, is that 95.42 percent of home owners were not delinquent on their home loans.” – Positive indeed!

    Great informational post Cyndee! Love your consistent insight into the mortgage market here in the Central Florida area!