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Saturday, August 13, 2011

Delinquent mortgage borrowers 25% above pre-crash levels

Basically this article states the housing bubble is popping .
There are 25% more borrowers paying their mortgage 60 days late than before the financial crisis in 2007, according to the consumer credit company Experian.
Researchers took a look at borrower behavior on credit cards and mortgages at a city-by-city level from the second quarter of 2006 to the second quarter of 2011. They found more borrowers are making an effort to bring cards current that hasn't been seen for home loans (see the chart below).

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