Mortgage Delinquencies and Foreclosures Decrease

By Kyle Chezum Updated on 11/18/2010

11/18/2010

Delinquencies and foreclosures decreased in the third quarter and the total number of homes either delinquent or in the foreclosure process hovered at 13.8%, down from 14.4% a year ago.  The number of serious delinquencies dropped to its lowest level since the middle of 2009.

Unfortunately, this doesn’t necessarily spell good tidings for the housing industry.  Foreclosure moratoriums and increased loan modification rates means that the true number of delinquent homeowners may be higher than what has been recorded.  Time will tell.

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