[b]One in 10 American homeowners behind in mortgage payments or in foreclosure[/b]Dec. 5 (Bloomberg) -- One in 10 American homeowners fell behind on mortgage payments or were in foreclosure during the third quarter as the worlds largest economy shed jobs and real estate prices tumbled.The share of mortgages 30 days or more overdue rose to a seasonally adjusted 6.99 percent while loans already in foreclosure rose to 2.97 percent, both all-time highs in a survey that goes back 29 years, the Mortgage Bankers Association said in a report today. The gain in delinquencies was driven by an increase of loans with payments 90 days or more overdue.Until we see a turnaround in the job situation, were not going to see these numbers improve, said Jay Brinkmann, chief economist of the Washington-based bankers group, in an interview. Were seeing more loans build up in the 90-days bucket as lenders work to modify loans and states put in place programs that delay foreclosures. ...read more: http://www.bloomberg.com/apps/news?pid=20601087&sid=a37uyBrX6dvY&refer=worldwide
_________________SI Moderator - Greg Gordon
I just ask the Father of our Lord Jesus Christ to hold up the economy, and comfort those that are hurting. In the name of Jesus.
Hello thomasm,Maybe we should not ask God to hold up the economy. He has promised to provide our daily needs. This Country has been rich for a long time and has turned away from God. They took prayer our of school and abort children in a casual way that disgusts me. Lord willing, if His hand is heavy on us we will repent and turn to Him and be saved.Worldly comfort is worthless without salvation. I pray for His mercy on His saints, here in this Country and worldwide.Regards,white stone
Jesus has already bore there judgement and ours, lets not call fire down, but God's mercy and Grace in our time of need. God's kindness brings us to our knees and repentance. Gods judgement is coming, but we are still in the grace era. God does turn the works of the enemy to serve His purpose.Love in Christ tom