The Real Deal Miami

More prime borrowers delinquent

July 08, 2009 11:17AM

The housing crisis has become less severe for subprime borrowers but continues to be a problem for prime borrowers, those with better credit. Prime foreclosure starts jumped 83 percent in May, while subprime foreclosures fell 16 percent, according to the Hope Now Alliance, a group of mortgage servicers and investors. The total number of mortgages that were delinquent, or more than 60 days late, hit a record high of 5.65 percent in May.