Dennis Norman
The foreclosure rate in the U.S. for the month of November,2009 was 3.09 percent,a 77.6 percent increase from November,2008 when the rate was 1.74 percent according to a report by First American CoreLogic.
In addition,the report showed that the number of borrowers that are seriously delinquent on their mortgage,
that is 90 or more days past due,increased 67.5 percent in November from a year ago. The 90+ day delinquency rate in November 2009 was 8.14 percent,a year before it was 4.86 percent.
With unemployment rates remaining at 10 percent,and the recent report from the Bureau of Labor Statistics which showed there are roughly only half as many job openings today as there were in June,2007,there is,unfortunately,no reason to expect these foreclosure and delinquency numbers to improve soon.
Related posts:
- Foreclosure rate in U.S. increases 73 percent in August from a year prior
- Foreclosure rate in U.S. in August up over 15 percent from year ago
- ‘Actual’Existing home sales drop 5.2 percent in November;Up 4.2 percent from a year ago
- US Foreclosure Rate and Mortgage Delinquency Rate Continues to Rise
- Mortgage loan delinquency hits 2 year low;foreclose rate ties highest on record
This is one of the scenario that America really affected with the global economic crisis or the global recession.