Mortgage delinquency, lowest in 20 years

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Mortgage and Lending with PS Mortgage Lending 305-791-4874 or 888-845-6630 365768

 

Mortgage delinquency* and foreclosure rates have reached their lowest point in 20 years (in the USA alone). 4.1 percent of mortgages were in some kind of delinquent breach (in November 2018). [Source]

This has been a consequence of the solid rise in home equity, and the fall of high risk loans in the market, generating a secure and solid base for old and new homeowners looking for a mortgage.

*Mortgage delinquency occurs when a borrower fails to facilitate the necessary payments stated on a loan contract. Loans are dependent of the due dates of scheduled payments. Failing to establish payment gives the lender permission to start the foreclosure proceeding, of course, the lender can help the borrower prevent it via a number of options.

 

 

 

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PS Financial Services

Owner and Principal Mortgage Originator

Certified Reverse Mortgage Professional (CRMP)

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Copyright © 2013 by Phil Stevenson & PS Financial Services, LLC

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Rainmaker
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Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Good afternoon Phil. I am won dering what your thinking is as to why this is.

Mar 20, 2019 10:25 AM #1
Rainmaker
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Phil Stevenson, CRMP
PS Mortgage Lending 305-791-4874 or 888-845-6630 - Miami, FL
"Mortgage Nerd" in Miami, Florida and Texas

Hi Sheila. I think there are way too many factors involved, this is mainly a huge consequence of a strong job market gain and stable growing home equity from most homeowners. But, as a I said, there are many other things to look into. Hope you're having a wonderful day!

Mar 21, 2019 11:30 AM #2
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Rainmaker
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Phil Stevenson, CRMP

"Mortgage Nerd" in Miami, Florida and Texas
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