Tuesday, April 21, 2009

Rumble of thunder…

Fannie, Freddie Defaults Rise as Borrowers Cite Lower Income

Fannie Mae and Freddie Mac mortgage delinquencies among the most creditworthy homeowners rose 50 percent in a month as borrowers said drops in income or too much debt caused them to fall behind, according to data from federal regulators. The number of so-called prime borrowers at least 60 days behind on mortgages owned or guaranteed by the companies rose to 743,686 in January, from 497,131 in December, and is almost double the total for October, the Federal Housing Finance Agency said in a report to Congress today.

Posted by tyrellcorporation @ 09:52 PM (785 views)
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2 thoughts on “Rumble of thunder…

  • “mortgage delinquencies among the most creditworthy homeowners rose 50 percent in a month”

    That’s quite a significant jump, isn’t it?

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  • tyrellcorporation says:

    Certainly is, question is, will the UK market suffer the same fate? As yet our housing ponzi scheme has remained remarkably stable.

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