MORTGAGE DELINQUENCIES HIT NEW RECORD

More news from the American Bankruptcy Institute

MORTGAGE DELINQUENCIES HIT NEW RECORD

TransUnion reported yesterday that customers at least 60 days past due on their mortgage payments rose to a new record in the fourth quarter, the Associated Press reported today. The credit data provider said that 6.89 percent of mortgage borrowers were at least two months behind on payments during the fourth quarter. It was the 12th straight quarter the delinquency rate rose. The delinquency rate, which is seen as a precursor to foreclosures, was 6.25 percent during the third quarter and 4.58 percent during the final quarter in 2008. In addition, customers at least three months late on making a credit card payment rose to 1.21 percent during the final three months of 2009. However, average credit card debt fell to $5,434 from $5,729 during the same quarter a year earlier. While mortgage and credit card delinquencies continued to worsen, auto delinquencies improved. The 60-day delinquency rate on auto loans fell 6 percent in the fourth quarter to 0.81 percent, compared with the same quarter a year earlier. The delinquency rate was unchanged from the third quarter.

Advertisements

About Law Office of Daniela P. Romero, APLC

We represent consumers and in Chapter 7 and 13 bankruptcy cases within the United States Bankruptcy Court for the Central District of California. Get a fresh start! Nosotros representamos a individuos y pequeñas empresas en el Capítulo 7 y 13 casos de bancarrota en el Tribunal de Quiebras de los Estados Unidos para el Distrito Central de California. Empiece de nuevo!
This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s