The Real Deal Miami

Record number of Americans in mortgage trouble

December 05, 2008 01:20PM

A record one in 10 U.S. homeowners with mortgages were either behind in
their payments or in foreclosure at the end of September, the Mortgage
Bankers Association said today. That number is 76 percent higher
than the 7.3 percent of American mortgage-holders in trouble in
September 2007. The
recent increase in problems is a result of rising unemployment.