Say it isn't so...

By
Real Estate Agent with Reece & Nichols

Henry Blodget from the Business Insider wrote that 31% of the nations securitzed loans are non-performing (in default).  That just doesn't seem realistic.  Does anyone have a better number?  If not, then the sky is definitely falling.

Comments (1)

Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

The state with the highest percentage of mortgages in foreclosure is Florida with 14.4%. In Florida, one of every four mortgages are in default with payments thirty or more day overdue. The next nearest state is Nevada with under 9% of mortgages in foreclosure. I suspect somewhat less than one in five mortgages are in some form of technical default. Mnay are 60 days or less and probably will never move forward to foreclosure. The sky is not falling and if people use common sense, this current cycle can end soomer than predicted!

Aug 31, 2011 04:24 AM