US Foreclosures Drop in the Second Quarter

WASHINGTON, DC-According to the Mortgage Bankers Association, the number of loans across the country under foreclosure decreased in the quarter ended June 2010, the lowest rate since 2006.

By GlobeSt News Hub | August 27, 2010 at 01:01 AM

WASHINGTON, DC-According to the Mortgage Bankers Association, the number of loans across the country under foreclosure decreased in the quarter ended June 2010, the lowest rate since 2006. The number of delinquent mortgage loans that are 90 days overdue decreased to 9.11% in Q2 2010 from 9.54% in Q1 2010.

Delinquent mortgage rates reached its peak in the last quarter of 2009 with 9.67%. Loans that converted from default loans to complete foreclosure loans also witnessed a slump in Q2 2010. For the full story, go to The New York Times.

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