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delinquency report: A (New) record 12.07% of mortgages at least 30 days late - 05/31/09 08:35 AM
About three months ago the Mortgage Bankers Association published their quarterly national delinquency survey which showed that a record 11.18% of mortgages were at least 30 days late.
Now, here we are 90 days later and we have a new record, 12.07% of mortgages were either at least one payment past due or were in foreclosure.
Already during the first quarter of this year, foreclosure actions have been started on 1.37% or approximately 616,000 homes.  And considering that major foreclosure moratoriums didn't expire until the end of March, you can see how these numbers are going to accelerate.
Rick Sharga, the senior vice president … (5 comments)

 

Mark MacKenzie

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Mark MacKenzie Real Estate Planning

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