real estate market: Understanding Delinquencies and Foreclosures - 09/11/08 05:05 AM
According to the National Delinquency Survey Facts and the Mortgage Bankers Association, The national delinquency (one payment past due) rate for outstanding mortgage loans on one to four unit properties was 6.35% at the end of the first quarter of 2008.  (This rate dropped to 3.41% on past due 30 days, 1.31% past due 60 days, and back up to 1.63% past due 90 days.)  The number of foreclosure inventory (loans in the foreclosure process) was 2.47% at the end of the same quarter.  Subprime ARMs (Adjustable Rate Mortgages) represent 39% of these foreclosure and Prime ARMs represent 23%.    The National Average … (0 comments)

 

Lauren Wilkins

Sedona, AZ

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Sedona Buyers Agency

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