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Title: New Mortgage Delinquencies Fell At End Of 2009 As Foreclosure Crisis Begins To Ebb
Source:
Associated Press
URL Source: http://abcnews.go.com/Business/wireStory?id=9887023
Published: Feb 19, 2010
Author: By ALAN ZIBEL AP Real Estate Writer
Post Date: 2010-02-19 13:06:57 by Brian S
Keywords: None
Views: 966
Comments: 2
The number of borrowers falling behind on their mortgage payments dropped sharply at the end of last year, a sign the foreclosure crisis is beginning to ebb. The Mortgage Bankers Association said Friday the percentage of borrowers who missed just one payment on their home loans fell to 3.63 percent in the October to December quarter, down from 3.79 percent in the third quarter. The decline was even more remarkable because delinquencies usually rise at that time of year because of heating bills and holiday spending. However, more than 15 percent of homeowners with a mortgage had missed at least one payment or were in foreclosure, a new record for the 10th-straight quarter "The bad news is that we still have a big problem," said Jay Brinkmann, the trade group's chief economist. "The good news is it looks like it may not get much bigger."
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#1. To: Brian S (#0)
A drop of 4% is a sharp decline????? However, more than 15 percent of homeowners with a mortgage had missed at least one payment or were in foreclosure, a new record for the 10th-straight quarter ruh roh
There is no spinning the fact foreclosures are rampant, and ongoing at a record pace.
my anti groupie can't get through life without me.
The Mortgage Bankers Association said Friday the percentage of borrowers who missed just one payment on their home loans fell to 3.63 percent in the October to December quarter, down from 3.79 percent in the third quarter.
#2. To: Brian S (#0)
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