Residential Mortgage Delinquency Rate Surpasses 10 Percent
When you factor in homes already in the foreclosure process, the total rate of noncurrent mortgages sits at 13.3 percent, according to the data in the Florida-based company’s national loan-level database. This rate indicates that more than 7.2 million mortgage loans are now behind on payments, LPS explained, with another one million properties already taken back by banks and in REO status. http://www.dsnews.com/articles/mortgage-delinquency-rate-surpasses-10-lps-2010-02-04