mortgage delinquency: A (New) record 12.07% of mortgages at least 30 days late
- 05/31/09 01:35 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)
mortgage delinquency: A record 11.18% of mortgages at least 30 days late
- 03/05/09 12:49 PM
According to the Mortgage Bankers Association and an article put out by Reuters, a record 11.18% of one to four unit residences were at least 30 days late on their mortgage payment. And while some people, and I'm not one of them, may find some solace with Obama's $275 billion sweeping housing and mortgage plan, it is worth noting that despite previous loan modification efforts, nearly 60% of loans have re-defaulted within 8 months after having been modified, and that was before unemployment hit critical mass. Why would this plan be any more successful? What we are going to see is that … (45 comments)
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.
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