Most Delinquent Mortgages Not Going to Collections – Real Estate Article – mortgage rates, foreclosed properties, delinquent mortgages
Aug 26, 2010
With all of the problems going on in the mortgage industry, it appears that maybe being 60 days late on your mortgage payments is not as big of a concern as it used to be.
The State Foreclosure Prevention Working Group, or SFPWG, released a study this week that showed as many as 60 percent of mortgage borrowers did not have their accounts forwarded to the mortgage lender’s loss mitigation department when they are 60 days or more late on their payments. That’s an astounding figure, but understandable considering the current economic climate.
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