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There are many challenging situations homeowners could face in connection to the mortgage on their home. One is having an underwater mortgage. This is when a home’s value is less than the amount still owed on the mortgage. The struggles that can go with being underwater when it comes to a home are among the things that can lead to homeowners facing foreclosure.

Being underwater on a mortgage, unfortunately, was a very common situation for homeowners here in Florida during the Great Recession and its aftermath. At some points, almost half of Florida homes with mortgages had an underwater mortgage.

A recent analysis indicates that underwater mortgage levels in the state have fallen quite a bit from these highs. According to this analysis, by CoreLogic, underwater mortgages only make up about 6.7 percent of the mortgages in the state these days. Also, half of the 20 metro areas in the U.S. that the analysis found to have the biggest year-over-year drops in underwater mortgages were from Florida.

However, these drops do not mean that the underwater mortgage problem is completely a thing of the past here in Florida. The state’s underwater mortgage level is still higher than the national average, which is 4.7 percent. Also, there are certain parts of the state where underwater mortgages remain particularly prevalent.

Additionally, just because a mortgage isn’t underwater doesn’t mean a homeowner is free of foreclosure risks. There are a range of other things that can trigger mortgage troubles that could raise the possibility of foreclosure.

So, foreclosure worries remain something that can come up for a range of different Florida homeowners. When the possibility of foreclosure arises, it can be important for homeowners to get guidance on their options for fighting for their home-related goals in the face of this challenge.