For the third straight month, option adjustable-rate mortgages are generating proportionally more delinquencies and foreclosures than subprime mortgages ...
Read more »Report: Option ARMs Performing Worse than Subprime
Category: Foreclosures & Short Sales Tags:
Mortgage Delinquency Reaches Record Hig
Rising unemployment levels helped push record numbers of homeowners into delinquency or foreclosure during the first quarter, according to industry data released yesterday.
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FHFA REPORTS ON HOMEOWNER
The report shows a 76 percent increase in loan modifications by Fannie Mae and Freddie Mac from the third to fourth quarters of 2008. There were 23,777 loan modifications during the fourth quarter, compared to 13,488 during the third quarter.
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Delinquencies Surge for HELOCs and Jumbo Prime Loans
Standard & Poor's said delinquencies of home-related loans climbed in January, with the rate surging in particular from December for home-equity lines of credit and prime-rated jumbo mortgages.
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