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Tampa Bay mortgage delinquencies climbing due to Hurricane Irma

By Times Staff Writer
Published: February 14, 2018 Updated: February 14, 2018 at 10:29 AM
This photo was taken in Miami Sept. 16, 2010, when foreclosures were at much higher levels. After a prolonged drop, the number of Tampa Bay homeowners late on their mortgage payments has risen sharply because of Hurricane Irma. [Joe Raedle/Getty Images, File, 2010)

Times Staff Writer

Growing numbers of Tampa Bay homeowners are late on their payments, largely due to September’s Hurricane Irma. In November, 9.1 percent of borrowers were at least 30 days in arrears compared to 6.4 percent a year earlier, CoreLogic reports. The percentage of those 90 or more days late inched up to 3.8 percent from 3.6 percent in November 2016.

In Florida and Texas, hard hit by Hurricane Harvey "serious delinquencies are up sharply… compared to a year ago, while lower in all other states except Alaska," said Frank Nothaft, CoreLogic’s chief economist. Nationally, 5.1 percent of mortgages were in some stage of delinquency while the Texas rate stood 6.7 percent.