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More Homeowners Falling Behind On Mortgages

Tuesday, May 28, 2013 - 9:06 AM
From Consumer Affairs:
Despite improvements in the housing market, many homeowners are still having trouble paying their monthly mortgage. The number of foreclosed homes on the market has been steadily falling but some of the recent numbers about loan payments are troubling.

The rate of delinquent home loans rose to 7.25% in the first quarter of the year, an increase of 16 basis points from the previous quarter, according to the Mortgage Bankers Association (MBA). The rate is lower, however, than it was a year ago.  

...Whether this is a blip or a troubling reversal of the recent positive trend will play out in the next few months.

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This may be an early indicator of a new wave of foreclosures. 
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