Md. tops nationwide rate of troubled mortgages 4.83% in state were at least month overdue

September 22, 1996

The percentage of Maryland homeowners behind in mortgage payments or in foreclosure during the second quarter was slightly higher than the national average, according to the Mortgage Bankers Association of America.

During the April-June period, MBA's National Delinquency Survey showed that 4.83 percent of the home loans in Maryland were at least 30 days past due.

Nationally, the seasonally adjusted delinquency rate on one- to four-unit homes was 4.35 percent, the survey showed.

The delinquency rate for conventional mortgages in Maryland came in at 2.73 percent, slightly less than the national figure of 2.79 percent.

But the state had higher delinquency rates on FHA and VA loans: 8.43 percent of FHA loans vs. 8.12 percent nationally, and 7.41 percent of VA loans vs. 6.80 percent.

Across the United States, 0.97 percent of home loans were in foreclosure, compared to 1.11 percent in Maryland.

Pub Date: 9/22/96

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