“Roughly one in seven of the 52 million households with mortgages” is in trouble, reports the New York Times. That includes homeowners who have missed a payment, as well as those in foreclosure or awaiting eviction.
Mortgage delinquencies continue going up, 9.38 percent of all mortgages in the first quarter of 2010, compared to 8.22 percent in the same time last year. That puts the seasonally adjusted rate over 10 percent for the first time. Continue reading