MBA Report: 10% Of Mortgaged Homeowners 30+ Days Late On Loan Payments

Bloomberg News reports:

• One in 10 American homeowners fell behind on mortgage payments or were in foreclosure during the third quarter as the world’s largest economy shed jobs and real estate prices tumbled. The share of mortgages 30 days or more overdue rose to a seasonally adjusted 6.99 percent while loans already in foreclosure rose to 2.97 percent, both all-time highs in a survey that goes back 29 years, the Mortgage Bankers Association said in a report [Friday].

For more, see Mortgage Delinquencies, Foreclosures Rise to Record.

See also Mortgage Bankers Association press release.