Delinquent Mortgages Hit Record 15%

  • The percentage of loans that were in foreclosure or behind at least one payment hit 15.02%, the most since MBA’s records began in 1972.   Foreclosures will likely stay high in 2010.
  • Real estate Web site Zillow.com recently said one in five homeowners were underwater in Q4!!
  • 4.5 million foreclosure filings are expected this year, up from 2.8 million in 2009.
  • “The bulk of foreclosures are coming in spring and summer, and we do expect home prices to continue falling through the end of this year,” said Celia Chen, director of housing economics at Moody’s Economy.com.

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