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The Federal Housing Administration (FHA) reported today that defaults on home mortgages and delinquencies increased by 6.2% from a year earlier. According to the FHA’s report, 7.5% of FHA loans were “seriously delinquent.” Seriously delinquent loans are those that are 90 days or more over due, are in the foreclosure process or are in bankruptcy.

As of January, 2009, the cities with the highest FHA default rates were Punta Gorda, Fla. at 18%, Detroit at 15.6%, Flint, Mich. at 15.1%, Fort Myers-Cape Coral, Fla. at 15% and Elkhart-Goshen, Ind at 12.1%. A total of 39,687 HUD homes were foreclosed on in January, up 22% from a year earlier.