Lakeland Leads Florida in Underwater Mortgages

Lakeland-Winter Haven is 31st in the nation and first in Florida among 98 large metro in the percentage of “seriously underwater” mortgages — those that owe at least 25 percent more than the property value, according to a recent analysis. The report by Atom Data Solutions (see a summary here) says 11.2 percent of local mortgages are seriously underwater. The other eight Florida metros all had percentages between 8.2 and 10.3. Top in the nation was Scranton at 21.9 percent, and least underwater was San Jose at 1.1 percent.