Friday, March 26, 2010

Mortgage delinquencies rise to nearly 14 percent | Reuters

  • According to the US Treasury Department. Delinquent Mortgages are Substantially Up, especially for prime loans, but somehow newly initiated foreclosures dropped during the fourth quarter of 2009.

    tags: foreclosures, delinquencies

    • The percentage of current and performing mortgages fell to 86.4 percent at the end of the fourth quarter of 2009
    • down 0.9 percent from the previous three months
    • down 3.9 percent from a year earlier.
    • 21.1 percent jump in mortgages 90 or more days past due
    • 4.7 percent of all mortgages
    • The increase in seriously delinquent mortgages was most pronounced among prime borrowers
    • The jump in seriously delinquent mortgages is likely to lead to a rise in foreclosure actions
    • mortgages accounted for 68 percent of all home loans within the portfolio
    • Home forfeiture actions -- foreclosure sales, short sales, and deed-in-lieu-of-foreclosure actions -- increased by 8.6 percent from the previous quarter to 163,224. That is up 44.5 percent from a year earlier.
    • newly initiated foreclosures, however, dropped by 15.4 percent from the previous quarter
    • up 19.0 percent from a year earlier

Posted from Diigo. The rest of my favorite links are here.

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