Late mortgage payments up in third quarter, 1st rise in years

[OhioChick]

Source: AP

Tuesday, November 08, 2011, 8:14 AM

NEW YORK -- While lawmakers in Washington debated the debt ceiling and consumer confidence dropped, more homeowners in the U.S. were having a harder time making their mortgage payments.

The rate that mortgage holders were late with their payments by 60 days or more rose in the June-to-September period for the first time since the last three months of 2009, according to TransUnion.

The credit reporting agency said 5.88 percent of homeowners missed two or more payments, an early sign of possible foreclosure. That was up from 5.82 percent in the second quarter of 2011.

The increase surprised TransUnion researchers, who previously forecast late payments, or delinquency, to fall for the quarter.

Read more: http://www.cleveland.com/business/index.ssf/2011/11/late_mortgage_payments_up_in_t.html

[nineteen50]

1. they should go to the government and ask for a

bailout or to the federal reserve for a 0 interest loan like
the banks did when they couldn't pay their bills. Inequality
of economics.

[sarcasmo]

2. Bailout for the banks but the proles are still getting the screw job.

[cstanleytech]

3. My brother has been running a month behind on his and it hasnt helped that companies like ATT

and First Premier Bank in Illinois make unauthorized withdraws from his checking account thus causing him to have to pay overdraft fees from other checks he did authorize.