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Foreclosures, Missed Payments at Record Levels

HeadlineMay 20, 2010

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.

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