Over 10% of homeowners (not mortgages, but rather 10% of all U.S. homeowners) missed at least 1 payment in Q1.
More evidence of the pull forward of demand due to the federal credit - Mortgage applications fell to the lowest level in 13 years last week.
4.6% of homeowners are in foreclosure.
And finally, a hint/speculation as to increases in strategic defaulters - homeowners with good credit who took out conventional, fixed-rate loans are now the fastest growing group of foreclosures.
Mortgage delinquencies drag on economic recovery - Yahoo! News (http://news.yahoo.com/s/ap/20100519/ap_on_bi_ge/us_home_foreclosures - broken link)
More than 10 percent of homeowners had missed at least one mortgage payment in the January-March period, the
[COLOR=#366388 !important][COLOR=#366388 !important]Mortgage [COLOR=#366388 !important]Bankers [/color][COLOR=#366388 !important]Association[/color][/color][/color] said Wednesday. That's a record high and up from 9.5 percent in the fourth quarter of last year and 9.1 percent a year earlier.
Around 4.3 million homeowners, or about 8 percent of all Americans with a mortgage, are at risk of losing their homes. They have either missed at least three months of payments or are in foreclosure, the trade group's top economist said Wednesday.
Federal tax credits boosted home sales this spring but they expired last month. As a result, mortgage applications to purchase homes fell to the lowest level in 13 years this week, the Mortgage Bankers Association said in a separate report Wednesday.
More than 4.6 percent of homeowners were in foreclosure, also a record.
The Obama administration's $75 billion foreclosure prevention program has barely dented the problem. More than 299,000 homeowners had received permanent loan modifications as of last month. That's about 25 percent of the 1.2 million who started the program since its March 2009 launch.
About 277,000 homeowners, or 23 percent of those enrolled, have dropped out during a trial phase that lasts at least three months.
Economic woes, such as unemployment or reduced income, are the main catalysts for foreclosures this year.
Initially, lax lending standards were the culprit. But homeowners with good credit who took out conventional, fixed-rate loans are now the fastest growing group of foreclosures. Those borrowers made up nearly 37 percent of new foreclosures in the first quarter of the year, up from 29 percent a year earlier.
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