Florida's borrowers in trial and permanent loan modifications, representing 12.3% of the nation's total. For the second month in a row, Florida had the second highest number of loan-mortgage modifications among the states under the Obama administration's Making Home Affordable program in April.
California was No. 1, with 198,382 loans in trial or permanent modifications, the April report from the Treasury Department says. Florida had 114,486. Florida's borrowers in trial and permanent loan modifications represent 12.3% of the nation's total.
Much of that activity is concentrated in South and Central South Florida. The combined number of loan modifications reported in April for three Florida metro areas — Orlando, Tampa-St. Petersburg and Miami-Fort Lauderdale-Pompano Beach — is 76,861. By comparison, the nation's top-ranked metro area, Los Angeles, had 57,758 loan modifications; second-ranked New York had 57,097.
On the other hand, the number of people starting the process has declined. The Treasury does not report how many Florida residents were eligible for loan modifications, but the national figure is 1.7 million borrowers. Of that, about 17% had received a permanent loan modification by April, more than a year after the program began.
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