1 In 7 U.S. Homeowners Are Paying Late Or In Foreclosure

Mortgage Bankers Association reported that 1 in 7 U.S. households with a mortgage ended the first quarter in foreclosures or in late payments. A long path to recovery remains even though foreclosures rates have slowed down, a stockpile of loans are still present.

“It’s like shutting off the oil leak, but you still have a lot of oil in the Gulf to deal with,” Jay Brinkmann, the MBA’s chief economist

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Tags: Housing Market

This entry was posted on May 19, 2010 at May 19, 2010 and is filed under Housing Market. You can follow any responses to this entry through the RSS 2.0 feed.