Foreclosure Rate Hits Record ; Home-Payment Delinquencies Also On the Rise

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NEW YORK The number of Americans who may lose their homes to foreclosure reached a record in the second quarter as late payments by subprime borrowers surged to one out of every seven loans.

The share of all U.S. mortgages entering foreclosure rose to 0.65 percent in the second quarter, an all-time high, from 0.58 percent in the first quarter, the Mortgage Bankers Association said in a report Thursday. The percentage of subprime borrowers making late payments increased to 14.82 from 13.77.

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Foreclosure Rate Hits Record ; Home-Payment Delinquencies Also On the Rise

The delinquency rate for mortgage loans on residential properties in New Jersey increased 58 basis points to 4.33 percent by the end of the s...

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