There is some good news on the foreclosure and delinquent loan front. According to a Mortgage Bankers Association survey that is based on information from the first quarter 2014, the delinquency rate for residential mortgages (defined as loans on one to four unit residential properties) are at the lowest level since the fourth quarter of 2007. For the purposes of the survey, delinquency included loans that were past due for at least one payment but does not include those that are in the foreclosure process. As for loans in that posture, those were down 2.65 percent from the fourth quarter, which is the lowest foreclosure rate since the second quarter of 2006. New Jersey was the only state to see an increase in loans in foreclosure over the previous quarter. Source: MBAA.org�
Posted on: Sat, 21 Jun 2014 13:00:00 +0000
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