Mortgage delinquencies break records! 5/2010
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WASHINGTON -The number of homeowners who missed at least one payment on their mortgage surged to a record in the first quarter of the year, a sign that the foreclosure crisis could worsen. |
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The Mortgage Bankers Association says more than 10 percent of homeowners had missed at least one mortgage payment in the January-March period. That number was up from 9.5 percent in the fourth quarter of last year and 9.1 percent a year earlier. Those numbers are adjusted for seasonal factors. |
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More than 4.6 percent of homeowners were in foreclosure, also a record. But that number was up only slightly from the end of last year. |
