Why Foreclosures Rise Even as the Economy Expands (U.S. News & World Report)

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November 20th, 2009, 11:05 AM

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Why Foreclosures Rise Even as the Economy Expands (U.S. News & World Report)

U.S. News & World Report - Even as the U.S. economy expanded in the third quarter, the nation's eroding labor market sent the mortgage delinquency rate to new heights and created fresh headaches for the Obama administration. About 1 in every 7 home loans in the country was either past due or in foreclosure at the end of the third quarter, according to the Mortgage Bankers Association's most recent National Delinquency Survey. That's the highest delinquency rate in the survey's history (the data begin in 1972). ...

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