Delinquent Mortgages, Foreclosures Hit Record High

About 12.07 percent of mortgage loans were delinquent or in the foreclosure process during the quarter, according to the survey by the Mortgage Bankers Association, an industry group. That is the highest ever recorded by the survey, which dates back to 1972. The figure reflects an 8 percent increase compared to the first quarter of 2008.

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From Information Clearing House



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