Ohio Sunday Papers Roundup – June 13

June 13, 2010 by · Leave a Comment
Filed under: Economy, Energy, Ohio, Politics 

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Equifax Exec Says Delinquent Mortgages on Rise, Housing Market Has Not Hit Bottom

April 7, 2009 by · Leave a Comment
Filed under: Uncategorized 

From Reuters:

… Dann Adams, president of U.S. Information Systems for Equifax Inc, reported that 7 percent of homeowners with mortgages were at least 30 days late on their loans in February, an increase of more than 50 percent from a year earlier.

He also said 39.8 percent of subprime borrowers were at least 30 days behind on their home mortgage loans, up 23.7 percent from last year. …

… But Adams said the continued increase in mortgage delinquencies revealed in his data foreshadows more foreclosures, short sales and home price declines as homeowners default and banks then repossess the homes to sell them at deep discounts.

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