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Mortgage Delinquencies Break Records

From an unfazed Associated Press:

Mortgage delinquencies, foreclosures break records

By Alan Zibel, AP Real Estate Writer, May 19, 2010

WASHINGTON – The number of homeowners who missed at least one mortgage payment surged to a record in the first quarter of the year, a sign that the foreclosure crisis is far from over.

More than 10 percent of homeowners had missed at least one mortgage payment in the January-March period, the Mortgage Bankers Association said Wednesday. That number was up from 9.5 percent in the fourth quarter of last year and 9.1 percent a year earlier…

More than 4.6 percent of homeowners were in foreclosure, also a record. But that number, which is not adjusted for seasonal factors, was up only slightly from the end of last year…

Prosperity is just around the corner.

This article was posted by Steve on Wednesday, May 19th, 2010. Comments are currently closed.

6 Responses to “Mortgage Delinquencies Break Records”

  1. proreason says:

    Let’s review:

    – Corporate profits are up
    – Goldman Sachs profits are record-breaking
    – Banks are making tons of money
    – UAW jobs and pensions are protected
    – Government jobs are increasing at a record pace.
    – Commissars now make more than 2 times what the serfs make, not counting lifetime pensions.
    – Government spending is skyrocketing. Private spending is stagnant.
    – Obamy’s and AlToad’s personal wealth is expanding
    – Unemployment remains at about 20%. Black unemployment is even higher
    – Record numbers of people are losing their homes
    – Consumer spending is low
    – Social Security payments didn’t go up, although costs did
    – Health care costs are about to skyrocket
    – Employment for illegal future Obamy voters is strong

    Thank God we have a government that is for the common man. Imagine what it might be like without aristocrats like we have taking care of us.

  2. TerryAnne says:

    Didn’t they just report, a few weeks ago, that less people were defaulting on mortgages now?

    • JohnMG says:

      Incredible as it may seem, eventually the world will even run out of deadbeats.

      But it’ll take a while.

  3. P. Aaron says:

    I am waiting for the O-bots & commie Dems (redundancy I know) to start blaming the 12 years of Reagan-Bush.

  4. BigOil says:

    Another low watermark achieved by our affirmative action President.

  5. Mithrandir says:

    it is amazing to see the media SPIN horrible news into fantastic news when a democrat is in office.

    But when a Republican is there, they can’t drudge up enough misery to fit in the newscast.

    It’s all manipulation of your emotions, and it’s no wonder why the media is dispised more than the congressional puppetmasters who control them.


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