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Spike in early past-due loans leads to delinquency rate jump

We continue to help our family of clients reduce their monthly mortgage payments through proper re-financing. In some cases, we have saved hundreds of dollars per month for our clients. Can we help you? Contact us TODAY at 949-415-4101 or email at jrod@ifminc.com.

April saw 6.1% of mortgages at least 30 days past due, marking the highest overall delinquency rate since January 2016, CoreLogic reported. Per the company’s latest Loan Performance Insights Report, the April delinquency rate spiked 2.5 percentage points from the month prior, with the coronavirus crisis continuing to make it difficult for many borrowers to meet their monthly loan payments. Year over year, the delinquency rate is up 2.5 percentage points from April 2019, ending 27 straight months of annual decreases in the overall past-due rate.

Read the complete Scotsman Guide article here.

John A. Rodriguez

John A. Rodriguez is a Senior Mortgage Banker with iFinance Mortgage Inc. His passion is educating families and individuals to better understand the home loan process, to secure the best financing available, and then to protect their mortgage. Contact John today at jrod@ifminc.com or 949-456-7056! LinkedIn: http://ow.ly/fttL50xQAUi

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