Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Mark Adams who wrote (108374)	6/12/2001 9:21:26 PM
From: patron_anejo_por_favor	Read Replies (1) \| Respond to of 436258

Mortgage delinquincies in FHA housing at all-time records: nytimes.com In a popular government-insured program to help people buy moderately priced homes, the percentage of homeowners whose loan payments are more than 30 days late exceeded 10 percent for the first time ever at the end of last year, according to a survey by the Mortgage Bankers Association of America. Even during the recessions of the early 1990's and the early 1980's, the rate did not exceed 8 percent. <snip> "This is the first time these loans have been tested," said Mark Zandi, an economist at Economy.com, a forecasting firm in West Chester, Pa. "The pace at which things have eroded reveals severe stress." The level of delinquencies among the mortgages insured by the Federal Housing Administration is "outrageous," added Mark P. Vitner, an economist at First Union in Charlotte, N.C. Mr. Vitner said that banks would probably become stricter about lending if it remained as high as 10 percent. "It is a very disturbing trend," he said.