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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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From: Paul Kern	6/14/2007 10:45:11 AM
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U.S. Mortgages Enter Foreclosure at Record in First Quarter By Kathleen M. Howley June 14 (Bloomberg) -- The number of U.S. homeowners who face possible eviction because of late mortgage payments rose to an all- time high in the first quarter, led by subprime borrowers, as the economy grew at the slowest pace in four years. The share of mortgages entering foreclosure rose to 0.58 percent, including so-called prime loans made to the most credit- worthy borrowers, from 0.54 percent in the fourth quarter, the Mortgage Bankers Association said in a report today. Subprime loans entering foreclosure rose to a record 2.43 percent, up from 2 percent in the prior quarter, and prime loans rose to 0.25 percent from 0.24 percent. To contact the reporter on this story: Kathleen M. Howley in Boston at kmhowley@bloomberg.net . Last Updated: June 14, 2007 10:05 EDT

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