Tuesday, November 17, 2009

COLORADO RANKS 42ND IN MORTGAGE DELINQUENCIES DURING Q3

A total of 6.7% of all Colorado residential property mortgages were past due at the end of the third quarter, ranking Colorado 42nd among the 50 states for mortgage delinquencies. By comparison, Florida mortgage delinquencies stood at a staggering 25% at the end of the third quarter.

Nationwide, mortgage delinquencies stand at 9.64%. Florida, California, Arizona and Nevada account for 43% of all delinqunent mortgages in the United States today.

In terms of foreclosure filings, Colorado ranked 19th in the country during the third quarter. 1.05% of outstanding mortgage loans were served an NED (notice of election and demand), which starts the foreclosure process, during the third quarter.