Home loan troubles break records again

Published: Friday, Dec. 5, 2008 8:16 a.m. MST
 |  E-MAIL | PRINT | FONT + - 
WASHINGTON (AP) — An industry group says a record one in 10 American homeowners with a mortgage were either at least a month behind on their payments or in foreclosure at the end of September as the source of housing market pressure shifted to the crumbling U.S. economy.

The Mortgage Bankers Association said Friday the percentage of loans at least a month overdue or in foreclosure was up from 9.2 percent in the April-June quarter, and up from 7.3 percent a year earlier.

There were, however, some modest signs of stabilization. The percentage of loans on which new foreclosures were started was 1.07 percent in the third quarter, flat from the second quarter.

Recent comments

They are climbing is because we encourage delinquencies. If you are...

The reason | Dec. 5, 2008 at 7:34 p.m.

previousnext

Latest comments

No conservatives writing about missile "Kumbaya?" Tell us how weak Obama is...

Endorse bill to audit Fed

The number of cosponsors is up to 250. Sorry for the mistake.

Endorse bill to audit Fed

Enlighten us, what else does this bill do? Whether or not these...

it happened from 1pm - 3pm

Unholy alliance

An ancient proverb states: he that giveth to the rich shall surely come to...

Not politically correct and also pretty ignorant, but I've come to expect...

Endorse bill to audit Fed

9:23 a.m Paul Krugman disagrees with you. When he advocated for the creation...

More greed for more entitlements! Who will pay for this greed? Our...

Thomas is great shot blocker. I love his intensity and determination in every...

American Legion has some great talent, dont take anything away from them...

Advertisements