Delinquent mortgages will double in 2009

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The percentage of borrowers
in New York City delinquent on their mortgages will double by the end
of 2009, according to credit research firm TransUnion. By the end of next year, 6.2 percent
of mortgage holders will be at least 60 days behind in their payments,
the highest rate since TransUnion started collecting data in 1992. In
the third quarter of this year, 3.5 percent of mortgages in the city
were 60 days or more past due, up from 3 percent in the second