by Calculated Risk on 3/05/2009 10:58:00 AM
Thursday, March 05, 2009
Report: Record 5.4 Million U.S. Homeowners Delinquent or in Foreclosure
From the WSJ: Delinquent Mortgages Hit Record Level
A record 5.4 million U.S. homeowners with a mortgage, or nearly 12%, were either behind on payments or in foreclosure at the end of last year, according to [the Mortgage Bankers Association] ...I haven't seen the actual report yet, and I'm especially interested in increases by loan category.
The percentage of loans at least 30 days past due rose to a record 7.88%, up from 6.99% in the third quarter and 5.82% a year earlier -- the biggest quarterly jump for delinquencies since the survey began in 1972.
The percentage of loans somewhere in the foreclosure process was 3.30% in the fourth quarter, up from 2.97% in the third quarter ...
The sharpest increases in loans 90-days past due were in Louisiana, New York, Georgia, Texas and Mississippi ...