Greensboro, NC Realtor: Fewer Homeowners Late on Mortgage Payments

Fewer Homeowners Late on Mortgage Payments

The Mortgage Bankers Association reports some encouraging news in the home mortgage deliquency statistics.  According to their quarterly National Delinquency Survey, 30-day delinquencies fell significantly for the last quarter of 2009.  In fact, they reported the largest drop ever in the 30-day deliquency rates.  Jay Brinkmann, MBA's chief economist, writes, "The continued and sizable drop in the 30-day delinquency rate is a concrete sign that the end (of mortgage delinquencies and foreclosures) may be in sight." 

Historically, 30-day deliquencies are considered a leading indicator of homes going into foreclosure.  Therefore, we should see fewer homeowners facing foreclosure in the future. 

The Mortgage Bankers Association also reported that a record proportion of homes are in foreclosure or arrears at this time but the drop in short-term deliquencies may indicate that homeowners in trouble may be lessening.   

At Team Leung, we understand that economic hardships can bring troubling times for homeowners.  That is why we have a full-time Short Sale Specialist, Kelly Walters, who has been helping homeowners in Greensboro and throughout the Triad avoid foreclosure, if possible.  Please email Kelly or give her a call at 336-253-5079 if you have any questions about this important topic.

Comment balloon 2 commentsAndy Leung • February 23 2010 09:41AM

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Great news Andy!  It took a while, but the numbers don't lie.  I agree that this struggle may be showing some signs of moving in the right direction.

Great article, it should brighten the day for many.

Posted by David Hardison (Bluegreen Communities) almost 9 years ago

Thanks for the feedback Kevin.  I am optimistic that things are turning around here in Greensboro and nationwide. 

Posted by Andy Leung, The Power to Move You! (Team Leung-Keller Williams) almost 9 years ago

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