Florida No. 1 in mortgages past due

Florida is first in the nation with 26 percent of mortgages one or more payments past due as of Dec. 31, according to the Mortgage Bankers Association's National Delinquency Survey.

The survey finds 20.4 percent of Florida mortgages are 90 days late or already in the process of foreclosure.

Nevada comes in second, with 24.7 percent one payment or more past due and 19 percent 90 days or more late or in the process of foreclosure.

Nationwide, the delinquency rate fell to a seasonally adjusted rate of 9.47 percent of all loans outstanding as of the end of the fourth quarter. That’s down 17 basis points from the third quarter, but up 159 basis points from a year ago. A basis point is one-hundredth of a percentage point.