Mortgage Delinquencies And Foreclosures Break Records
Posted By thestatedtruth.com on May 19, 2010
Alan Zibel, AP Real Estate Writer,    Wednesday May 19, 2010
WASHINGTON (AP) — The mortgage crisis is dragging on the economic recovery as more homeowners fall behind on their payments.
Analysts expect improvement soon, but the number of homeowners in default or at risk of foreclosure will have a lingering effect on the broader economy.
More than 10 percent of homeowners with a mortgage had missed at least one payment in the January-March period, the Mortgage Bankers Association said Wednesday. That’s a record high and up from 9.1 percent a year ago.
A big jump in the number of borrowers who have missed three months of mortgage payments drove the increase.
Comments