Tuesday, August 25, 2009

Bay Area mortgage delinquencies soar

Nearly 1 in 10 Bay Area homeowners will be at least 60 days behind on their mortgages by the end of the year, according to a forecast being issued today.

The projection by the credit reporting agency TransUnion covers Alameda, Contra Costa, Marin, San Francisco and San Mateo counties.

In early 2007, as few as 1 out of every 100 Bay Area mortgages was delinquent. TransUnion analyst Ezra Becker called the new figures sobering and dramatic.

Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/08/25/BUQ419D12E.DTL

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