9% of Homeowners Are Late with Payments or in Foreclosure
September 6th, 2008I N S A N E
See: Mr. Mortgage: The Quickening
Via: USA Today:
An industry group says a record 9.2% of American homeowners with a mortgage were either behind on their payments or in foreclosure at the end of June, as damage from the housing crisis continued to mount.
The latest quarterly snapshot by the Mortgage Bankers Association on Friday broke records for late payments, homes entering the foreclosure process and for the inventory of loans in foreclosure.
The percentage of loans at least 30 days past due or in foreclosure was up from 8.8% in the January-March quarter, and up from 6.5% a year earlier.
Research Credit: JoKerHill
Posted in Economy | Top Of Page
2 Responses to “9% of Homeowners Are Late with Payments or in Foreclosure”
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September 6th, 2008 at 7:24 am
I never understood how people could think of houses a money-making investment. A house is something into which you have to keep sinking money in order to physically maintain it!
September 9th, 2008 at 1:08 am
Can we get an ethnic breakdown on that figure from somewhere?