Late-Stage Delinquencies are Surging, Especially Those With FHA Loans
"The overall rate of loans 30 or more days past due increased during the second quarter to a seasonally adjusted 8.22 percent of all outstanding one-to-four-unit mortgages. This was up 386 basis points (bps) from the first quarter of the year and 369 bps year-over-year. MBA includes loans in forbearance in its delinquency numbers."
----------
Mortgage delinquencies are generally accompanied by not paying HOA and condo assessments, which is bad news. Banks can survive these situations a lot better than associations that operate on a shoestring budget and have no source of income but assessments.
No comments:
Post a Comment