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Monday, August 22, 2011

'After months of decline, late mortgage payments rise again in Ohio, U.S.'

from cleveland.com.......

"After improving since last fall, mortgage delinquencies are on the rise again in Ohio and nationwide.

In Ohio, 9.1 percent of all home loans are behind but not yet in foreclosure, up from 8.3 percent three months ago, according to a report Monday from the Mortgage Bankers Association in Washington, D.C.
Ohio delinquencies, not counting foreclosures, peaked at 10.3 percent last fall.
More disturbing: Loans in Ohio that are newly delinquent - 30 days' behind - jumped by 20 percent from the first quarter to the second. About 4.1 percent of homeowners with loans are one month behind on payments. The same uptick occurred nationally. The survey includes 88 percent of all loans nationwide"...........READ MORE

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