Fewer homeowners behind on mortgage payments

This is related to another published post.  The number of foreclosures have increased as banks have moved inventory.  However, the rate of delinquency has decreased due to decreased inventory.

Mortgage delinquency rates dropped in the last three months -- but only because more borrowers had their homes repossessed. You can't be late on your mortgage payment if you've already lost your home.

The number of mortgage borrowers behind in their loans dropped during the three months ended Sept. 30 to a seasonably adjusted 9.13%, according to a report released Thursday by the Mortgage Bankers Association.

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