From Bad to Worse: One in 10 Mortgages in Trouble

Nearly one in 10 Americans with mortgages is behind on payments or has fallen into foreclosure, according to the Mortgage Bankers Association. But the worst may be yet to come: Job losses, the trade group predicts, will exacerbate the situation. "It is clear that the mortgage market now is being driven by fundamental issues with jobs and the economy," said Jay Brinkmann, the association's chief economist. The delinquency rate for mortgage loans was 6.99 percent of all loans outstanding at...Full Story
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