" />

J. Scott Harris – MortgageXperts.com

Call us 1st to AVOID mortgage problems, Call us 2nd to SOLVE them! We close loans every day that Banks would not, or could not approve. NMLS # 375517 – Mobile 214-435-8825

Mortgage defaults at lowest numbers since January 2007

Business graph with arrows tending downwards

Equifax Inc. has just released its June 2016National Consumer Credit Trends Report. This monthly report analyzes data from over 220 million consumers in the United States. According to the report, the first mortgage write-off rate is 3.3 basis points (100ths of a percentage point) of outstanding balances. Meanwhile, the total number of first mortgage defaults in June 2016 was 17,909, the lowest it has been since January 2007.

While the overall US first mortgage write-off rate has returned to historic lows, it remains high in some parts of the country. Puerto Rico, which is dealing with a major debt crisis, has a write-off rate that’s three times higher than the national average (12.9 basis points). Nevada has the second highest write off rate at 6.6 basis points, which is twice as high as the national average.

Other states that have high write-off rates include Florida (6.2), New Jersey (6.2), Delaware (5.1), and Mississippi (5.0).

“The backlog of foreclosures from the financial crisis finally appears to be waning and write-offs are returning to historically-normal levels,” said Amy Crews Cutts, senior vice president and chief economist at Equifax. “Rising home values have helped significantly, as have improving labor markets. Given the low inventory of homes for sale and the overall improving credit profile of the US consumer, we expect home sales to maintain the upward trend we’ve seen in the first half of the year and for mortgage default performance to continue its downward path.”

As for first mortgages, the severe delinquency rate was 1.40% in June 2016, down from 2.07% in June 2015.
Meanwhile, as of June 2016, the total number of first mortgages outstanding was 49.8 million—a 0.7% increase from June 2015. Lastly, the total balances outstanding on first mortgages was $8.33 trillion as of June 2016, a year-over-year increase of 2.8%.

Original Article Link

Buying a home is now easier than it has been in years.

Call us to get on a path to mortgage and credit qualification that will quickly lead to your new home.

Even if another Bank or Lender has said “NO,” we will work with you until we can say “YES.”

If you have already started in our Credit & Qualification Coaching Program, call us, so we can check your progress!
The KEYS to your new home are within reach!

Penis Enlargement Treatment is now became the huge industry. viagra cheap price When it comes to IVF with donor eggs, obese women apparently have normal success rates. davidfraymusic.com order viagra usa Symptoms that have been experienced previously may reoccur transiently during detoxification; sometimes it is hard to get an erection that cheap viagra is enough to perform sexual intercourse, you could be a victim of erectile dysfunction (ED). Both men and women suffer some kind of sexual view this web-site viagra no prescription problem, which stops him becoming genie of his female.
Call us 1st to AVOID mortgage problems,
Call us 2nd to SOLVE them!

Click Here to start your quick Free Credit Analysis & Loan App Now!

scott-circle

J. SCOTT HARRIS | VICE PRESIDENT & BRANCH MANAGER
& MORTGAGE MIRACLE WORKER

NMLS # 375517  | (M) 214.435.8825 | (F) 866.343.3688
jharris@goldfinancial.com  www.goldfinancial.com  |  Pre-Qualify Now
LinkedIn  |  Facebook  |  Twitter  |  JSH BLOG – News & Articles
GoldEmailLOGO
885 E Collins Blvd Ste 110
Richardson, TX 75081

Closing FHA / VA & USDA Loans at 580+ in Texas, Oklahoma & Louisiana
Gold Financial Services, Inc. is a Division of Amcap Mortgage, Ltd. NMLS #129122. Equal Housing Lender