US Households Facing Foreclosure Rose in 4th Quarter
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The ranks of those facing foreclosure swelled by a quarter-million households in the fourth quarter, new government data shows.
Households that are at least 90 days delinquent on their mortgage payment now number at least 1.6 million, according to a report Thursday issued by the Office of the Comptroller of the Currency and the Office of Thrift Supervision …[br]
The ranks of those facing foreclosure swelled by a quarter-million households in the fourth quarter, new government data shows.
Households that are at least 90 days delinquent on their mortgage payment now number at least 1.6 million, according to a report Thursday issued by the Office of the Comptroller of the Currency and the Office of Thrift Supervision …[br]
The ranks of those facing foreclosure swelled by a quarter-million households in the fourth quarter, new government data shows.
Households that are at least 90 days delinquent on their mortgage payment now number at least 1.6 million, according to a report Thursday issued by the Office of the Comptroller of the Currency and the Office of Thrift Supervision …[br]
One reason for the ballooning number of seriously delinquent borrowers is that foreclosure, for better or worse, is becoming an increasingly lengthy process.
Many delinquent borrowers are in trial modifications, which keeps the final stages of foreclosure at bay.
The number of foreclosures completed in the fourth quarter rose 9 percent, to 128,859.
Another 38,000 owners disposed of their house in a short sale, where the lender agrees to accept less than it is owed.
From The New York Times, March 26 2009
