FHA FLORIDA FIASCO

FHA's Florida fiasco Source: money.cnn.com The state dominates the list of troubled metro areas for Federal Housing Administration-insured mortgages. In fact, 16 of the top 25 locales with the highest default rates are in Florida, with tiny Punta Gorda on the Gulf Coast leading the chart at 22.7%. The poor performance of Florida's FHA loans has helped drag the agency down to its lowest point in decades, raising concerns that taxpayers will have to bail it out.