Why Mortgages Become Delinquent
May 20, 2007
Surprisingly, unemployment and income losses are not a rising cause for mortgage delinquencies – at least for the millions of single-family home mortgages acquired by Freddie Mac. Job-income loss accounted for 36 percent of delinquencies last year, compared with to 43 percent in year 2005.
An increasing number of delinquencies are caused by excessive borrower financial obligations and late payments linked to family or borrower illnesses has been rising dramatically, according to Freddie Mac’s recently released analysis report.
Posted in All Things San Diego, Lending, Real Estate, Things of Interest, Thought For Today
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