Unfortunately, reaching highs is not necessarily a good thing. The Mortgage Bankers Association has released data that shows a staggering number of delinquencies and foreclosures in the first quarter. This data has been attributed to record unemployment numbers, as well as to other damaging side effects of the financial crisis.
 
The survey revealed that around 12.07 percent of mortgage loans were affected by delinquency or foreclosure, which is the largest number that the survey has recorded since it began in 1972. It also marks a rise of 8 percent since a year ago. 
Although the government has taken steps to reduce foreclosure …read more

The housing industry has set yet another dubious record: The number of borrowers who have fallen more than 30 days behind on their home equity lines of credit has hit the highest level in mor ethan a decade. This news comes from the American Bankers Association.