54,327 Florida Mortgages Reach 60-Day Delinquency

Florida leads the nation in foreclosure activity

CORAL SPRINGS, FL, UNITED STATES, September 15, 2026 /EINPresswire.com/ — Tens of thousands of Florida homeowners may be approaching a financial crossroads where acting before foreclosure begins could make a difference measured not merely in dollars, but in years.

ATTOM’s Mid-Year 2026 U.S. Foreclosure Market Report found that 27,494 Florida properties had a foreclosure-related filing during the first six months of 2026, giving Florida the highest foreclosure rate of any state. That figure was up 32.65% from a year earlier. Of those, 20,358 properties entered foreclosure during the first six months of 2026

The cost of waiting can be measured in years. An individual who owes about what a property is worth may have an obvious solution: sell. In practice, it is often not that simple. A homeowner may owe $400,000 on a property worth $410,000. Once you factor in missed payments, attorney fees, repairs, commissions, taxes, and closing costs, there may be little or no equity left to complete a conventional sale. Continuing to miss payments can make the problem substantially worse.

A completed foreclosure can also affect how quickly a former homeowner can qualify for another mortgage, particularly if the lender also obtains a deficiency judgment.

A deficiency judgment may occur when a property is sold through foreclosure for less than the amount owed, and the lender seeks to hold the borrower personally responsible for the remaining deficiency. For example, if someone owes $400,000 but the lender recovers only $250,000 through foreclosure, the lender may seek a deficiency judgment for some or all of the remaining amount, plus certain allowable costs and fees.

In simple terms: losing the house does not necessarily erase the debt. The mortgage is the lien that gave the lender the house as collateral for repayment of the note. After foreclosure, that collateral is gone, but when the foreclosure proceeds do not fully satisfy the amount owed, the borrower may still be personally responsible for the remaining debt. To qualify for a mortgage again, you must pay off any outstanding judgment.

In addition, Fannie Mae generally requires a seven-year waiting period after foreclosure. FHA’s standard waiting period following foreclosure or deed-in-lieu is shorter, generally three years before a new FHA case number can be assigned. VA underwriting is more flexible and generally allows a foreclosure completed more than two years before a new loan closing to be disregarded.
That means avoiding a completed foreclosure can preserve something homeowners often overlook: time and a deficiency judgment.

There is another exit when there is little to no equity. Acrezip is a Florida real estate investment firm that evaluates distressed properties using an alternative acquisition structure in which the homeowner transfers ownership while existing financing may remain in place. Acrezip does not assume the homeowner’s mortgage debt.

Instead, where appropriate, the property can be acquired subject to existing financing, with the firm becoming contractually responsible to the seller for bringing payments current and continuing to make them while owning the property. The original borrower remains obligated on the existing loan unless separately released by the lender.

For the homeowner, the objective is straightforward: stop an escalating financial problem before foreclosure takes away the remaining choices. For the mortgage company, continued payments may turn a delinquent mortgage back into a performing account.

For Acrezip, the transaction is a long-term investment rather than a quick flip. The company may advance money to cure arrearages, pay transaction expenses, repair the home, maintain the property, and continue making the mortgage payments while holding the asset for many years.
Over a 10- or 20-year period, principal reduction, rental income, and potential appreciation may create value that did not exist when the property was originally acquired.

There are also risks. Property values can decline, insurance and taxes can increase, repairs can be substantial, and existing mortgages may contain due-on-sale provisions that could be triggered if the lender elects to do so. But for a homeowner with no meaningful equity and no realistic ability to catch up, the alternative can be stark.

“At 60 days late, the homeowner may still have something valuable that disappears as the foreclosure advances — choices,” said Alex Baglioni, Acrezip Chief Executive Officer. “The objective is to look at the problem while there is still a chance to solve it. Once the debt, arrears, legal expenses and repairs exceed what the property’s value can support, there may be nothing we can do. But if those numbers are still at or below market value, the mortgage can start getting paid again, and we are willing to take the long-term investment risk. A situation heading toward disaster can potentially become beneficial to everyone.”

For Florida’s 54,327 borrowers already at least 60 days behind, that distinction may make the difference between getting back on their feet again, or renting for many years to come.

About Acrezip

Acrezip is a Florida real estate investment company based in Coral Springs that acquires residential real estate through conventional and alternative acquisition structures. The company evaluates distressed properties, including situations involving limited equity and mortgage delinquency, based on the individual circumstances of the homeowner and property. Acrezip can be reached at (954) 866-0000.

Alex Baglioni
Acrezip LLC
+1 9548660000
alex@acrezip.com
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