Florida’s housing market was one of the hardest hit during the mortgage crisis and the state has some of the nation’s highest property insurance costs. Florida also has a higher percentage of delinquent mortgages than any other state. More than one in five Florida homeowners are behind on their mortgage payments and nearly half of all mortgages are underwater — meaning more money is owed than the value of the property.
Many homeowners are feeling the pinch of rising insurance costs even as property values have slumped, wages are sinking and unemployment remains high Read more here.
