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May 20, 2010

Foreclosures, Missed Payments at Record Levels
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New figures show the number of homeowners behind on their mortgage
payments is at a record high. The Mortgage Bankers Association says more
than one in ten homeowners missed a payment in the first quarter of this
year. More than 4.6 percent of homeowners were in foreclosure during the
same period, also a record. Homeowners with fixed, conventional loans
now mark the fastest-growing group in foreclosure, accounting for 37
percent of the total.



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