More than one in every eight homeowners with a mortgage was behind on home loan payments or in some stage of foreclosure at the end of the second quarter, as mounting unemployment aggravated the housing crisis, the Mortgage Bankers Association said on Thursday. The percentage of loans in foreclosure or at least one payment past due rose to 13.16%, the biggest jump since MBA records began in 1972 and a jump of more than a percentage point since the first quarter.

This entry was posted by Gwen Robinson on Friday, August 21st, 2009 at 4:43 and is filed under Capital markets. Edit this entry.