New figures show the number of homeowners behind on their mortgage payments is at a record high. The Mortgage Bankers Association says more than one in ten homeowners missed a payment in the first quarter of this year. More than 4.6 percent of homeowners were in foreclosure during the same period, also a record. Homeowners with fixed, conventional loans now mark the fastest-growing group in foreclosure, accounting for 37 percent of the total.
Foreclosures, Missed Payments at Record Levels
HeadlineMay 20, 2010