WASHINGTON - A record one in 10 American homeowners with a mortgage were either at least a month behind on their payments or in foreclosure at the end of September as the source of housing market pressure shifted from risky loans to the crumbling U.S. economy.Record 1 in 10 Americans in mortgage trouble - Mortgage Mess- msnbc.com
The percentage of loans at least a month overdue or in foreclosure was up from 9.2 percent in the April-June quarter, and up from 7.3 percent a year earlier, the Mortgage Bankers Association said Friday.
The foreclosure crisis continued to be concentrated in states like Florida, where a stunning 7.3 percent of all loans were in foreclosure at the end of September, by far the highest in the country.
Friday, December 05, 2008
Record 1 in 10 Americans in mortgage trouble - Mortgage Mess- msnbc.com
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