"While lawmakers in Washington debated the debt ceiling and consumer confidence dropped, more homeowners were having a harder time making their mortgage payments.
The rate at which mortgage holders were late with their payments by 60 days or more rose in the June-to-September period for the first time since the last three months of 2009, according to TransUnion.
The credit reporting agency said 5.88% of homeowners missed two or more payments, an early sign of possible foreclosure. That was up from 5.82% in the second quarter.
The increase surprised TransUnion researchers, who had expected late payments, or delinquencies, to fall for the quarter.
"It's much different than we've been talking about the last few quarters," said Tim Martin, group vice president of U.S. Housing in TransUnion's financial services business unit.
The problems were widespread. Between the second and third quarters, all but 10 states and the District of Columbia saw delinquency rates increase..."
at http://www.businessinsider.com/talk-in-washington-hasnt-helped-homeowners-pay-their-mortgages-2011-11?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+clusterstock+%28ClusterStock%29#ixzz1d8o8VRdk
The rate at which mortgage holders were late with their payments by 60 days or more rose in the June-to-September period for the first time since the last three months of 2009, according to TransUnion.
The credit reporting agency said 5.88% of homeowners missed two or more payments, an early sign of possible foreclosure. That was up from 5.82% in the second quarter.
The increase surprised TransUnion researchers, who had expected late payments, or delinquencies, to fall for the quarter.
"It's much different than we've been talking about the last few quarters," said Tim Martin, group vice president of U.S. Housing in TransUnion's financial services business unit.
The problems were widespread. Between the second and third quarters, all but 10 states and the District of Columbia saw delinquency rates increase..."
at http://www.businessinsider.com/talk-in-washington-hasnt-helped-homeowners-pay-their-mortgages-2011-11?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+clusterstock+%28ClusterStock%29#ixzz1d8o8VRdk
