No Foreclosure Surge in Our Near Future
The percentage of Americans who are late with their home loan payments has fallen to its lowest point in 18 years.
Only a small percentage of Dallas-Fort Worth homeowners are behind with their mortgages, according to a report from CoreLogic.
In October, 4.1 percent of U.S. mortgages had late payments. That's down 1 percentage point from 2017.
In the D-FW area, the mortgage delinquency rate mirrored the national number at 4.1 percent — down from 4.5 percent in October 2017, CoreLogic found.
"Despite some regional spikes related to hurricane- and fire-impacted areas, overall delinquency rates are near or at historic lows," Frank Martell, president and CEO of CoreLogic, said in a statement.
Only 1.2 percent of D-FW home loans were seriously delinquent in October, meaning they were 90 days or more past due. Also, only 0.2 percent of home mortgages in the area were in foreclosure.
During the worst of the recession in 2010, more than 5 percent of Dallas-area mortgages were seriously delinquent and about 1.5 percent of D-FW loans were in foreclosure...