13% of All Americans are Behind in their Mortage…
August 20th, 2009 categories: National News/Local News
The Mortgage Bankers Association new numbers indicate more than 13 % of American homeowners are behind on their mortgage or in foreclosure.
As of June, 4% of all mortgage borrowers were in foreclosure and 9% had missed at least on mortgage payment.
According to the Mortgage Bankers Association, one in three new foreclosure is from a prime, fixed rate mortgage, rather than a sub-prime, adjustable rate, or option arm mortgage.
The recession, economy, and loss of jobs have been listed as the primary reason mortgage delinquencies are on the rise.
The number of jobless claims for unemployment benefits has risen for the second week in a row from 561,000 to 576,000.
