DETROIT-The Mortgage Bankers Association has reported a fall inthe rate of delinquent mortgages and properties approachingforeclosure in the US, in the second quarter of 2010.
About 9.85% of total loans outstanding were delinquent as ofJune 2010 and foreclosure was commenced on 1.1% of delinquentloans. In Michigan, 5.58% of total loans were overdue by 90 days ormore, lower by 70% from that recorded in the first quarter.For the full story, go to Detroit Free Press.
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