Nevada Sees Highest Home Loan Delinquency Rate
The second quarter saw 15.86 percent of mortgages behind on payment in the state.
Delinquencies are often a bellwether of foreclosure filings, and a recent report shows that Nevada continued to post the highest late-payment rate in the country.
According to TransUnion, 15.86 percent of home loans in the Silver State were at least 60 days behind on payment during the second quarter of this year. That compares to the national rate of 6.67 percent.
The national rate declining 1.48 percent between the first and second quarters is an indication that consumer credit is stabilizing, according to TransUnion vice president F.J. Guarrera.
"Although this is good news for the consumer, the economy is still burdened by high unemployment, upcoming [adjustable rate mortgage] resets and a glut of foreclosures," Guarrera said.
While more consumers may be trying to avoid foreclosure in Nevada, they may get some assistance through a program provided by the state that has helped 43 percent of participants keep their homes. Meanwhile, the federal government is also trying to help with the Home Affordable Modification Program.
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