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Mortgage Broker News | 22 Feb 2010, 12:00 AM Agree 0
One in 10 borrowers is seriously delinquent on their U.S. mortgage, with their payments at least 90 days past due or in foreclosure. That compares to one in 16 borrowers a year ago and one in 33 two years ago, according to the Mortgage Bankers Association.
  • Greg | 26 Feb 2010, 04:45 AM Agree 0
    Those are incredibly bad numbers, and I would suppose that most of them are over mortgaged which is why they are not able to sell and get out. The bad lending sounds more like fraudulent lending to me, at least from the point of view of the international bankers that bought the mortgages, although it is obvious they did not check into the quality very carefully. The US still has a long way to go to stabilize their housing prices and see some upward movement.
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