Homeowners Behind On Their Mortgage Hit A 21 Year High
Written by Tariq on October 15, 2020
Having a tough time, paying your mortgage on time you’re not alone. According to the latest figures from CoreLogic (a financial data and analytics firm), the number of homeowners four months behind on their mortgage hit a 21-year high in July.
The 120-day delinquency rate stood at 1.4%, up from 0.12% in July 2019 and the highest level since CoreLogic started tracking delinquencies in 1999. The rate includes those homeowners who declared forbearance as a result of the CARES Act.
The rate of those at least 90 days past due jumped to 4.1%, up from 1.3% in the same month last year and the highest level since April 2014. All 50 states experienced an uptick in seriously delinquent mortgages, those characterized by payments 90 or more days late. But some bore the brunt more than others.
In New York, that rate climbed to 10% in July, up from 4.3% the year before. New Jersey’s rate hit 9.6%, up from 4.5%, while the delinquency rate in Florida increased to 8.6% from 4.1% in July of last year. Click Here To Read More.
Source: Money.yahoo.com