Welcome!




Expand Your Education with These Courses from
Becoming a Successful Sales Professional: Skills for Sales Success: Part One.
Customer Relationship Building: Skills for Sales Success: Part Seven.
ACE: Purchase Reverse Mortgage Course.
At Home with Diversity.
BPOs: The Agent's Role in the Valuation Process.

Mortgage Delinquencies Fall Signaling Improving Housing Market

Have a comment on this article? Share on Facebook!

mortgage_due_calendarThe percentage of homeowners behind on mortgage payments or in the process of foreclosure is at a five-year low for the second quarter, according to a recent survey. Dom Frommeyer, CRMS, the president of NAMB, The Association of Mortgage Professionals, weighs in on the numbers and explains that while the low numbers are a great sign, the mortgage market still isn’t in the clear.

“Mortgage delinquencies skyrocketed when the housing bubble burst and we’re still seeing lingering effects,” says Frommeyer. “It’s great to see the numbers decline suggesting people are making smarter decisions in the housing market, but there’s still a way to go before we see numbers back to where they were before the housing crash.”

According to the survey, the rate of mortgages on one-to-four-unit homes that were at least 90 days past due or in the foreclosure process was at 5.9 percent, compared to 7.3 percent in 2012 and 9.7 percent in 2009. Before the housing bubble burst, the percentage of serious mortgage delinquencies was down to 2.5 percent. “Serious delinquency rates are difficult to recover from and it’s also dependent on each state’s mortgage practices,” continues Frommeyer. “For example, states that don’t require mortgage companies to take back homes by appearing in front of a judge can recover faster compared to states that require judicial foreclosures. That being said, it’s a positive sign to see the numbers decline overall and across the board.”

For more information, visit www.namb.org.

Want instant access to great articles like this for your blog or newsletter? Check out our 30-day FREE trial of REsource Licensed Real Estate Content Solutions. Need easy stay-in-touch e-Marketing solutions too? Try Pop-a-Note for 99 cents!
Join RISMedia on Twitter and Facebook to connect with us and share your thoughts on this and other topics.




Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Copyright© 2014 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission from RISMedia.

Content on this website is copyrighted and may not be redistributed without express written permission from RISMedia. Access to RISMedia archives and thousands of articles like this, as well as consumer real estate videos, are available through RISMedia's REsource Licensed Content Solutions. Offering the industry’s most comprehensive and affordable content packages. Click here to learn more! http://resource.rismedia.com

Our Latest News >>