KTVN Channel 2 - Reno Tahoe News Weather, Video - More Americans at Foreclosure Risk in Second Quarter

More Americans at Foreclosure Risk in Second Quarter

Posted: Updated:

The number of Americans at risk of losing their homes is up.

The Mortgage Bankers Association says 8.44% of homeowners missed at least one mortgage payment in the April-June quarter.

That figure, which is adjusted for seasonal factors, rose 0.12% from the January-March period.

In a normal market, the trade group says the percentage of delinquent borrowers is about 1.1%.

Delinquent mortgages have plummeted from a record high of more than 10% of residential mortgages a year ago. But the decline is due partly to delays in foreclosure filings that are backlogged in several state courts.

The end of a state and federal investigation into faulty foreclosure paperwork will likely lead to increased foreclosures later this year.

(Copyright 2011 by The Associated Press. All Rights Reserved.)

Powered by WorldNow
All content © Copyright 2000 - 2012 WorldNow and Sarkes Tarzian, Inc. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service. EEO Report Forms: A, C, H. Organizations can request to be notified of all KTVN job openings. Please click here.