Seriously Delinquent Mortgages in the Fourth District
Fee, Kyle, Economic Trends
Much of the recent commentary on the economy has been focused on the recovery, while seriously delinquent mortgages have quietly crept upwards. (McDash/LPS defines seriously delinquent mortgages as those that are 90 or more days delinquent plus those that are in foreclosure.) As of December 2009, 7.9 percent of mortgages in the nation and 7.6 percent of mortgages in the Fourth District were considered seriously delinquent. Since December 2008, seriously delinquent mortgages have increased 75 percent (3.42 percentage points) nationally, whereas in the Fourth District they have increased 48 percent (2.45 percentage points).
While it …
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Publication information: Article title: Seriously Delinquent Mortgages in the Fourth District. Contributors: Fee, Kyle - Author. Magazine title: Economic Trends. Publication date: February 2010. Page number: 18+. © 2004 Federal Reserve Bank of Cleveland. COPYRIGHT 2010 Gale Group.
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