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Number Of Delinquent Mortgages Rises

from Regal Assets

As the economy goes through another rough patch, consumers are affected the most. The number of American households behind on payments or foreclosure rose slightly. This shows that the economy is nowhere near out of its housing crisis. Many people believed that the housing markets were beginning to recover but the mortgage side of the industry is still down. According to Wall Street Journal, “The Mortgage Bankers Association said 11.9% of mortgage loans on one- to four-unit homes were 30 days or longer past due or in the foreclosure process at the end of second quarter, according to a survey it released Thursday. That represents more than 5.8 million households.”

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