U.S home foreclosures at record high

Mar 6, 2008

The Mortgage Bankers Association said the percentage of mortgages in foreclosure hit a record high in the fourth quarter, while mortgage delinquencies reached the highest point in 23 years.

A record 2.04 percent of mortgages in the United States were in some point of the foreclosure process by the end of the year, the trade association said Thursday.

At the same time, a record high 0.83 percent of loans entered foreclosure during the same period.

Homeowners missed more payments, as 5.82 percent of loans were reported past due during the quarter, reaching the highest delinquency rate since 1983


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