Homeowner blues: 92,500 Minnesotans facing foreclosure
Economists say the recession is over, but tell that to the 92,500 Minnesota homeowners who are facing or are in foreclosure. The Mortgage Bankers Association announced Thursday that 6.98 percent of nearly 900,000 Minnesota mortgage holders, or about 62,000 Minnesotans, were behind on their payments in the third quarter. That's a record high. Nationwide, roughly 4.3 million, or 9.94 percent of all loans outstanding, have mortgages that are at least 30 days past due. That's the highest since the association started tracking this data in 1972. Loans in the process of foreclosure rose in the state and the nation from...
Original Article: Forum: News/Activism
Tags: Blues 92, Economists, Facing Foreclosure, Loans, Minnesota Homeowners, Minnesota Mortgage, Mortgage Bankers Association, Mortgage Holders, Mortgages, Recession, Rose, X27