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Mortgage delinquency: Is it slowing down?

Shared by Niicss on Thu Aug 20, 2009 3:14 am
According to an announcement by Transunion, mortgage delinquency is slowing down. A large number of Americans are still under pressure to make their mortgage payments, but the speed of the problem has slowed down. This could mean that stabilization of the market is round the corner. This is the first time since 2007 that the growth rate for mortgage delinquency has shown a decrease. Source: http://www.credit.com/news/housing-market/2009-08-17/mortgage-loan-delinquency-is-slowing-transunion.html

Community Members Opinion

savior70

Joined: 25 Mar 2009

Posts: 1895
Location: Florida

261.84 Dollars($)

Posted: Thu Aug 20, 2009 7:04 am Post subject:

Hi, It's a good indication for the ailing mortgage industry that the rate of delinquency is gradually slowing down. Many homeowners are struggling to make payments on their loans. But there are still many people who have been successful in keeping their homes through a loan modification. The Home Affordable Refinance and Modification Programs deserve a mention here. Though these programs have not been as effective as many had thought they would, they have still managed to help thousands in saving their homes and this has definitely contributed towards slowing down of the mortgage delinquency rate.


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