Home mortgage foreclosures rise in third quarter
Banks and government agencies are ramping up their efforts to save troubled home loans, but not fast enough to keep the wave of foreclosures from rising.
That’s the message from a government housing report released Monday.
Here are some of the key trends, both bad and good:
- Mortgage problems rose during the third quarter, with 6.2 percent of all loans seriously delinquent (60 days or more past due) and an additional 3.2 percent of all loans in the process of foreclosure. Delinquency among prime mortgages – the largest and highest-quality category – rose significantly.
Full story is available on The Christian Science Monitor
