One In Seven U.S. Homeowners In Foreclosure

Homeowners continue to struggle with mortage payments according to the Mortgage Bankers Association. The MBA said one out of seven U.S. households with a mortgage ended the first quarter late on mortgage payments or in the foreclosure process. However, the pace has ebbed, with the rate of new foreclosures easing. Loans that are 90 days or more past due or in foreclosure represent 68 percent of all problem mortgages, which is a historical high. The combination of loans in foreclosure and those that are at least one payment past due declined to 14.01 percent on a non-seasonally adjusted basis from a record higher 15.02 percent in the fourth quarter. Unemployment nearing double digits is forcing more homeowners to default in states other than those hurt in the initial tidal wave of foreclosures like Florida, Arizona and California. Learn how to find the best stocks to trade each day in our 70 page E-Book and 90 minute online video for free.