Foreclosures IncreasingThe Mortgage Bankers Association is reporting that more homeowners are falling delinquent on their mortgage payments. According to their report, 4.7% of loan payments were more than 30 day past due and 11% of mortgages were in foreclosure.  The trend is being blamed on high-risk loans with subprime rates and adjustable rate mortgages that are being affected by rising interest rates over the past few years. More Americans Making Late Mortgage Payments
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[...] Meanwhile, according to the Mortgage Bankers Association, it is these types of loans which become unsustainable and are most likely to fall delinquent or subject to foreclosure. [...]
By Women Pay Higher Mortgage Rates ยป Serving Women in Their Fifties on December 14th, 2006 at 7:46 am