- Published: Monday, 07 December 2009 02:45
- Written by Nisa Islam Muhammad Special to the NNPA from the Final Call
(NNPA) - The Mortgage Bankers Association (MBA), has reported that a record number of loans --1 in 7 -- is delinquent, up from 1 in 10 a year ago. The numbers also show that 1 in 22 families in the U.S. is in the process of losing their home, up from 1 in 34 a year ago.
Based on those figures, the country's now on track for 2.9 million foreclosure starts in this year alone.