Subprime lenders made too many loans to under-qualified buyers. Their interest rates are starting to balloon, and they can't pay

Realtytrac, an online foreclosure marketplace, says nationwide foreclosures are up 56% from this time last year. Florida is up a whopping 84%.

Overall, the counties in North Central Florida increased from this time last year to this year by 26%.

"By and large, it's not the kind of disastrous market that Miami, for example, exemplifies," said University of Florida Real Estate Analyst Wayne Archer.

Experts say Florida's strong economy and high employment rate could bring this crisis to an end by sometime next year.

By Anne Imanuel, WCJB TV20 News