Posted on Monday, March 29, 2010
ForeclosuresAs of Q4 2009 about 14% of mortgages were non-performing. On top of that, 1/2 of the loans modified in Q1 2009 were delinquent by Q4. As of Q4 2009, home mortgage performance in general had declined for 7th quarters in a row.
On the flip side, as of Q4 2009 86.4% of mortgages were current. Prime mortgages continue to be the biggest growing problem. Over half of all modifications are past due against after less than a year. Foreclosure actions are execpted to increase as alternatives prove unsuccessful.