Mortgage payments show rise in delinquencies

New York, NY, United States (AHN) – More homeowners are having a hard time making their mortgage payments.

According to credit reporting agency TransUnion, the rate at which mortgage holders were late with their payments by 60 days or more rose in the June-to-September period for the first time since the last three months of 2009.

TransUnion said 5.88 percent of homeowners missed two or more payments, an early sign of a possible foreclosure. That was up from 5.82 percent in the second quarter of 2011.

The problems were widespread across the nation. All but 10 states and the District of Columbia saw delinquency rates rise.

Arizona had the best rate of improvement in the U.S. While still ranked fourth in the country for the number of delinquencies, the state now has a rate of 7.46 percent. That is a vast improvement from where the state was ranked in the fourth quarter of 2009, when the state’s delinquency rate hit 16 percent, the highest for any state since the foreclosure crisis began.

Experts say the delinquencies can no longer be blamed on bad loans. The bad economy is to blame.

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