Record High for Mortgage Delinquencies

During the first quarter, there were a record number of mortgage delinquencies this year–the highest, at least, since surveys of mortgage payments were established in 1972.

Though the government has been making valiant efforts to curb the crisis, it seems that job losses are simply stronger than the government. Even so-called reliable borrowers with the best credit ratings are experiencing difficulty with payments–and even foreclosure.

The delinquency rate overall is just over 12%. At this time last year, it was 8%. (more…)