Tuesday, December 02, 2008

Delinquent Mortgages Set to Nearly Double in 2009

From WSJ:

The number of consumers with delinquent mortgages is poised to almost double by the end of next year, hitting its highest level in at least 16 years, according to a leading credit bureau. TransUnion LLC, which analyzed about 27 million consumer records in its database, predicted that the proportion of consumers with mortgages that are 60 days or more past-due will hit 7.17% in the fourth quarter of 2009.
That would be the highest level reached since the Chicago credit bureau -- which is releasing the data on Tuesday -- first started tracking ...

1 comment:

Ronduck said...

Wow. Locally houses in bad areas of town are being listed on the local MLS service for $11k. Prices must be heading a lot lower still.