Jun 19, 2010

Texas mortgage delinquencies drop

Less than 9 percent of Texas homeowners missed a mortgage payment in the first quarter of 2010, according to first-quarter data from the Texas Mortgage Bankers Association.

Texas’ 8.7 percent delinquency rate is down from 10.3 percent one year ago. Nationwide, mortgage delinquencies increased about 1 percent to 10.1 percent.

Just more than 2 percent of Texas mortgages were in foreclosure proceedings at the end of the first quarter, the group said. The national foreclosure rate is 4.6 percent, said Scott Norman, president of the Texas Mortgage Bankers Association.

The above article appeared in the bizjournals of Atlanta and can be accessed @-http://dallas.bizjournals.com/dallas/stories/2010/05/17/daily35.html

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