By Balitang America Staff, ABS-CBN North America Bureau
Oct. 7, 2014
REDWOOD CITY, Calif. – Good news on the housing market as a financial service firm finds that mortgage delinquencies have dropped.
Black Knight Financial services reported in its mortgage monitor that the number of mortgages in foreclosure process was at 1.8 percent in August, down from 2.66 percent from August of 2013.
However, delinquent mortgages continued to rise. A reported 5.9 percent of mortgages in the U.S. were delinquent in August; that’s up from 5.64 percent in July.
Meantime, overall consumer debt delinquencies dropped to 1.57 percent of all accounts in the second quarter — a new record low, according to the American Bankers Association.
Delinquencies are defined as payments that are 30 days or more overdue.
Has the improved economy helped you to pay your bills on time?