AUG 11, 2010
It seems as though more people are able to pay their bills on time, at least according to a recent trend in the mortgage market.
Fannie Mae said recently that the number of U.S. mortgages considered seriously delinquent dropped for the first time in three years. The rate of delinquencies dropped to 5.47 percent, though that number was just 3.15 percent a year ago.
There are a number of the different factors that can cause a homeowner to make late payments, or even no payments on their mortgage. Predominant factors contributing to mortgage delinquencies in todays economy follow.
Any consumer struggling to make payments should consult a credit counselor before their financial situation gets out of hand.