Late On Your Mortgage Payment

The number of foreclosures is not increasing and neither are delinquencies in mortgage repayment. Let’s celebrate. The housing turnabout is here? Along with the rapture? Well, not quite.

The WSJ reports: Thursday’s report on mortgage delinquencies from the Mortgage Bankers Association offered a mixed bag. The good news is that the share of problem loans in the system is down from one year ago.

The bad? Mortgage delinquencies, after adjusting for seasonal factors, didn’t decline much in the first quarter from the previous quarter, and foreclosures remain at very high levels.

But increasingly, the national numbers don’t paint as useful a picture about what’s happening on the foreclosure front, a point that Jay Brinkmann, the trade group’s chief economist, made on Thursday. National figures are “dominated by some problem areas that are both large and are going to have a much longer timeline to work out,” he said.

About Luke Ford

Raised a Seventh-Day Adventist at Avondale College in Australia, Luke Ford moved to California in 1977. He graduated from Placer High School in 1984, reported the news at KAHI/KHYL radio for three years, attended Sierra College and UCLA, was largely bedridden by Chronic Fatigue Syndrome for six years, and converted to Judaism in 1993. From 1997-2007, Luke made his living from blogging. Living by Beverly Hills (Alexander90210.com), he now teaches the Alexander Technique (moving the way the body likes to move). Lessons cost $100 each and last about 45 minutes. In 2011, Luke completed a three-year teaching course at the Alexander Training Institute of Los Angeles. His personal Alexander Technique website is Alexander90210.com. Luke is the author of five books, including: » The Producers: Profiles in Frustration » Yesterday’s News Tomorrow: Inside American Jewish Journalism
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