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Light at end of jammed foreclosure tunnel?

30-day delinquencies back to 2007 level
Published on Nov 17, 2011

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by CareyBot

The percentage of mortgage holders behind by just one payment on their loan reached its lowest level since 2007 during the third quarter -- a sign that there's light at the end of the jammed foreclosure tunnel, a quarterly survey by the Mortgage Bankers Association suggests.

The MBA survey showed foreclosure starts were also up during July, August and September -- the first increase in a year -- as lenders moved to foreclose on loans that have been seriously delinquent for months and in some cases years.