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Housing crash fades as defaults decline to 2007 levels

Posted on 07 May 2013

Six years after the start of the foreclosure crisis, American homeowners are paying their mortgages like the housing crash never happened.
First-time delinquent home loans fell to 0.84 percent of the 50.2 million mortgages in March, the first month below 1 percent since 2007, before a wave of defaults led to the financial crisis, according to a report today by Lender Processing Services Inc. The rate of first-time defaults, defined as loans that went from performing to at least 60 days delinquent, peaked at 2.89 percent in January 2009………………………………………..Full Article: Source


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