Home > Blogs > Jane Penttinen > Jane Penttinen's (jane_p) Blog

Not a very good trend

By Jane Penttinen

Mortgage and Lending with V.I.P. Mortgage

August 31, 2009 06:45 AM

According to the Mortgage Bankers Association -

At the end of 2007 - 6% of mortgages had a least 1 payment past due and another 2% of mortgages were in the foreclosure process.

At the end of 2008 - 8% of mortgages had at least 1 payment past due and another 3% of mortgages were in the foreclosure process.

At the end of June 2009 - 9% of morrtages had at least 1 payment past due and another 4% of mortgages were in the foreclosure process.

We probably won't start to level out until January 2010 at the earliest.

Re-Blog

Comments(3)

Comment

Show All Comments

Sort:

Michael Rohde

Sunstreet Mortgage LLC. Licensed Mortgage Professional - Tucson, AZ

That's about one in six is at least 30 days past due. The way I heard this put, and can easily comprehend, is if I am standing looking at my house from the curb, look three doors down the left, if none of those homes is late or in foreclosure then one of the three on right is. That's a scary thought. Gosh time can't move fast enough.

Aug 31, 2009 09:18 AM

Mike Jones

SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171) - Tucson, AZ

Mike Jones NMLS 223495

Jane,

There's always something happening in this business, but I wouldn't want to be doing anything else. I'm particularly thankful to be associated with fine people like you, Michael & the rest of the gang at Sunstreet.

Mike in Tucson

Aug 31, 2009 12:46 PM

Jane Penttinen

V.I.P. Mortgage - Tucson, AZ

NMLS #222178

Mike and Mike - don't you wonder why we never see any statistics on how many homes in this country are owned free and clear? There is a pretty good percentage that don't have any mortgage at all.

Aug 31, 2009 01:54 PM

Comments(3)

Jane Penttinen

Recent Posts