December 4, 2008 Elad Bushari

A growing percentage of American homeowners are behind on their mortgage payments, according to new data from TransUnion, the credit reporting agency based in Chicago. In the third quarter, 3.96 percent of all mortgage holders in the U.S. were 60 or more days behind on their payments, compared to 2.56 percent in the same period last year. TransUnion projects that the delinquency rate, which had been holding steady at approximately 2 percent for years, could rise to 4.7 percent in the fourth quarter.

States with the highest delinquency rates were Florida at 7.8 percent, Nevada at 7.7 percent, California at 5.8 percent and Arizona at 5.5 percent. Lowest delinquency rates were found in North Dakota at 1.4 percent, South Dakota at 1.6 percent, Montana at 1.7 percent and Vermont at 1.8 percent.

Elad Bushari

Elad Bushari is the Broker / Owner of Bushari Group Real Estate and a National "30 Under 30" Honoree by REALTOR Magazine in 2009.

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