Thursday, May 28, 2009

Mortgage Delinquencies Reach 12% in U.S.

By JAMES R. HAGERTY
Rising unemployment is leading to more mortgage defaults, a new survey shows.

About 12% of first-lien home mortgages in the U.S. were overdue or in the foreclosure process at the end of March, the Mortgage Bankers Association reported Thursday. That is up from 8.1% a year earlier…...

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Posted by DwA in • National Government
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