More bad news


From today's AOL News

The combined mortgage delinquency and foreclosure rates hit 14.41% on a non-seasonally adjusted basis -- the highest ever on record, according to the Mortgage Bankers Association's National Delinquency Survey released Thursday.
The MBA reported that in the third quarter of 2009, loans 90 days or more past due, loans in foreclosure and foreclosures started all set new records.

That's 1 in 7 mortagage loans that are either IN forclosure, or 90 days past due which means they will be in foreclosure soon. This number doesn't count the homes that have ALREADY been foreclosed upon, and are bank owned. AND, the #'s are accelerating. Gonna get interesting...

Comments

ladyj said…
Wait a minute....weren't we told the recession is over??? Somebody's not telling the truth.
11:54 AM
Fam Guy said…
Everybody's not telling the truth.
12:03 PM
ladyj said…
I have come to the conclusion that there is no truth, except your own.
1:40 PM
Fam Guy said…
Truth IS truth. Kinda hard to explain to the Repubs...
6:43 PM
ladyj said…
Truth is like having 3 sides to a story; your side, my side, and the right side. However, is there really a right side? As I said, everyone has their own truth.
8:37 PM
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