Payments behind mortgages fall again in 1 trim

NEW YORK - the number of owners to make late - payments or even no payment - their mortgages fell for the fifth consecutive quarter in the first three months of 2011. But this figure remains stubbornly high compared to the standard before the crisis, probably because of the huge backlog of homes waiting to be excluded.

The rate of borrowers across the country who were 60 days or defaulted on their loan mortgage payments fell to 6.19% for the three months ended March 31, according to the Agency TransUnion credit assessment. At the same time it is bottom of tradesmen % last year.

The delinquency rate was higher in Florida, the increase in per cent, down 14.65% per year, it is, followed by the leader of last year, Nevada, to 14.19%, at the bottom of 15.98%.

Arizona was the following, 9.14%, compared to Zulia % in the first quarter of 2010. In California, fourth at the 8,58%, showed the fall the more of a State in the last year, falling from 10,68%. These four States have been hardest hit by the housing crisis.

Dakota North and South continue to have the lowest rates of delinquency in the country, at 1.54% to 2.53%, respectively.

Rate of actually past South Dakota, of 2.44% last year, one of the nine States which has seen an increase in payments delayed from last year. The largest increase was in Maine, where delinquency rose to 5.04 percent of borrowers, of 4.64% in the first quarter of 2010.

While the rates in most States and the rate of the country are down from their peaks, they are still not near normal recession of about 2%, said Tim Martin, Vice President of TransUnion group for the United States real estate market. Neither the mortgage delinquency rate has improved as much as similar statistics for credit cards or auto loans.

"It is still the standard and improved does not as much as some other types of credit", he said.

One of the reasons for the rate to remain stubbornly high are the length of time that required to foreclose on a House. There are up to 3.7 million homes serious offenders in the country, according to some estimates. And the foreclosure listing firm RealtyTrac Inc. said last week that delays in treatment seem to worsen. In States like New York, for example, it takes an average of over two years for a House move from the initial stage of foreclosure in the repossession by a bank.

TransUnion data are taken from reports of credit of $ 27 million, representing about 10% of all U.S. consumers who actively use a form any credit.

If crime continues to improve at his current pace, Martin said that rates return to normal for another 8 years. "He just gives you a sense high these rates are, historically speaking, and how far we go to such a slow improvement in the pace," he said. TransUnion expects rates to continue to drift downward through the rest of the year.

The data show that unemployment and the housing prices are strongly correlated with delinquency. While some mortgages written in recent years are falling into delinquency, Martin noted that real estate prices seem to be falling again, which could discourage the owners with little or no equity in their property to make their payments.