Fla. Has Second Highest Rate of Homes Underwater

By: The Associated Press
By: The Associated Press

ORLANDO, Fla. (AP) -- Florida had the second-highest rate of homes seriously under water in the first quarter of the year.

A new report released by RealtyTrac says that 31 percent of homes in Florida were seriously under water. That means the combined loans amount secured by the property is at least 25 percent higher than the property's estimated market value.Only Nevada had a higher rate.

Two Florida metro areas, Lakeland and the Space Coast, were among the urban areas with the highest rate of homes seriously underwater. Around 36 percent of homes in Lakeland and 35 percent of homes in the Space Coast were seriously underwater. Only Las Vegas had a higher rate.

Nationwide, 9.1 million homes, or 17 percent of all residential properties, were underwater in the first quarter.


Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
WTVY-TV 285 N Foster Street Dothan, AL 36303 334-792-3195
Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 256274401 - wtvy.com/a?a=256274401
Gray Television, Inc.