Not a sand state problem anymore, and not an adjustable rate mortgage problem. The foreclosure crisis that started with the burst of the home price bubble is now showing up both in states without notable areas of sand, and in prime fixed rate loans. States with the highest problem: Florida and Nevada. But check the graph and you will note that new delinquencies (blue bar) are higher in many other states.
Thirty four states and the District of Columbia have total delinquency rates over 10%. States with the lowest rates: North Dakota, Alaska and South Dakota. Think this is a widespread problem?