New York State Has 69-Year Backlog of Seriously Delinquent Mortgages -Crains NY

Data released Wednesday show that the New York metro area's serious delinquency rate rose to 11.4% in December, according to

. That rate is the share of loans in foreclosure plus the share of loans delinquent 90 or more days. The rate for the 100 largest metro areas was 9.7% for December. As of March, based on the number of foreclosures, it will take 69 years for New York state's seriously delinquent mortgages to clear. And that's an improvement from December.