OK, it’s actually worse.
Mortgages that are in forbearance and have not missed a payment before going into forbearance don’t count as delinquent.
They’re reported as “current.” And 8.2% of all mortgages in the US – or 4.1 million loans – are currently in forbearance, according to the Mortgage Bankers Association. But if they did not miss a payment before entering forbearance, they don’t count in the suddenly spiking delinquency data.
The onslaught of delinquencies came suddenly in April, according to CoreLogic, a property data and analytics company (owner of the Case-Shiller Home Price Index), which released its monthly Loan Performance Insights today. And it came after 27 months in a row of declining delinquency rates. These delinquency rates move in stages – and the early stages are now getting hit:
Transition from “Current” to 30-days past due: In April, the share of all mortgages that were past due, but less than 30 days, soared to 3.4% of all mortgages, the highest in the data going back to 1999. This was up from 0.7% in April last year. During the Housing Bust, this rate peaked in November 2008 at 2% (chart via CoreLogic):
More
DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
DEMS ARE doing this on PURPOSE to COLLAPSE AMERICA time to start Executing them at GITMO.
ReplyDeletePeople are not working and the banks keep on collecting!!!! But hey, be retards like the residence of BERLIN and be warned about tax hikes, and they just sit there and keep taking it, threatening to move but yet still stays!!!
ReplyDeleteJust wait until the property tax bills come due!
ReplyDeleteIt's going to be are interesting year!
Next year isn't looking very good either!
Just proof that the dumbocrats don't care about you, me or this country and will use lock downs, impeachment, lawsuits, and whatever else they can do to take out Trump and gain power.
ReplyDeleteJust wait for the kirwin plan to tack on another, what was it 5 billion in taxes, just to make sure retard kids don't eat tide pods!!!! Are you people just as stupid as the people in Berlin who think they can still move from taxes????
ReplyDelete2:54 this is true, but guess what!!!! You all are letting them do it, so STFU you have no right to complain!!!!
ReplyDeleteOh boy, America sure is great!
ReplyDeleteSold my house months ago in wicomico. Wife and did okay. Now staying with relatives paying off some odd and ends. Looking to get a deal in the OBX.
ReplyDeleteIt is much bigger than Trump
ReplyDeleteHe is a Facist tool of the bankers
False opposition
Don’t worry, there will be another big multi trillion dollar give away. Right before the next major depression.
ReplyDeleteYou dokts continue to amaze me with how ridiculously stupid you are. Its as if some computer bot is just making up comments minute by minute....
ReplyDeleteBased on comments, its as if the federal gov ran by Trump never issued socisl distancing and other COVID guidelines....
ReplyDeleteIf people would live in their means they would not have this problem.
ReplyDelete