Repossessions Rise, Mortgage Delinquency Down

While serious delinquency on home loans retreated to a nearly nine-year low, the number of homes repossessed rose for the third month in a row.

Loans at least 90 days past due accounted for 2.8 percent of all mortgages outstanding as of Aug. 31 — the lowest rate since September 2007.

The rate of serious mortgage delinquency was previously reported at 2.9 percent as of one month prior and 3.4 percent as of one year previous.

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From:: Financing