7
Feb
Loan Delinquency Rates Have Surpassed 10 Percent
home loan delinquencies
A recently released report, showed that home loan delinquency rates in the U.S. have now surpassed 10 percent. Factoring in foreclosures in process, for one huge mortgage database, the total non-current rate sits at 13.3 %. When extrapolated to reflect the entire mortgage industry, this rate indicates that more than 7.2 million mortgage loans are now behind on payments. In addition, an estimated one million properties are now owned by banks. The January 2010 Mortgage Monitor report is an in-depth summary of mortgage industry performance indicators based on data collected as of December 31, 2009. Read more 