NATIONAL MORTGAGE DELINQUENCIES FOR THE 4th QUARTER OF 2009

The Mortgage Banker’s Association has released the National Mortgage Delinquency statistics for the forth quarter of 2009.  As expected, the numbers continue to raise.  The following chart prepared by the Distressed Property Institute reveals these statistics.  They break them down by type of mortgage and status within the foreclosure process. 

The first stage is when the loan is in default, meaning that the loan payment is more than 30 days late.  The  second stage is in Foreclosure, meaning that the bank has taken the property back and they now own the property.

The chart also shows the unemployment rate and the underemployment rate, both of which have a direct impact on the delinquencies now and in the future.

As a mamber of the CDPE organization, I agree that we want the public to be aware of the current market conditions.  Feel free to call if you have any questions.