Mortgages in Default
Posted by mattputnick on February 14, 2008
We have all been inundated with the notion that Foreclosures are spinning out of control. Are foreclosures up – YES there is no denying it, BUT…
As of October 1, 2007 only 2.95% of mortgages were labeled as seriously delinquent. Serious delinquent means that a loan has not been paid in 90 days (roughly 3 months) or is already in foreclosure.
Does this number seem low to you? From what the media has lead us to believe it seems low to me. It’s no surprise to me that the media focuses more on the negative then the positive.
