Top Headline Comments 2-17-10 | Main | The state of ClimateGate today, Feb 17, 2010. [krakatoa]
February 17, 2010

Mortgage Delinquencies Spiked 4Q 2009

I can haz double dip now?

... TransUnion's quarterly analysis of trends in the mortgage industry found that mortgage loan delinquency (the ratio of borrowers 60 or more days past due) increased for the 12th straight quarter, hitting an all-time national average high of 6.89 percent for the fourth quarter of 2009. This quarter marks the first time the mortgage delinquency rate increase did not decelerate after doing so for three consecutive periods.

This statistic, which is traditionally seen as a precursor to foreclosure, increased 10.24 percent from the previous quarter's 6.25 percent average. Year-over-year, mortgage borrower delinquency is up approximately 50 percent (from 4.58 percent)...

The good news is that new housing starts are up, so someone is getting stimulated by all this misery. It will take a lot of new soup kitchens and shelters to deal with the new wave of suburban and rural homeless.

When you've finally burned through cashing in a 401K and life insurance policies, sold the second/third car, canceled all the magazine subscriptions, etc trying to hang on hoping for a recovery and a job, this is what happens next.

And what do you suppose the chances of these people being able to pay any 401K cash out tax liability are? Slim? None? Wouldn't surprise me if Federal tax receipts for FY 2009 crater. But hey -- we hired lots of new IRS agents to go chase homeless people. They'll squeeze it out of them.


digg this
posted by Purp at 10:45 AM

| Access Comments




Recent Comments
J. Sessions: "Re LV massacre: As I am the chief law enforcement ..."

TheJamesMadison: "359 and he has roots in both states, and soon a ..."

kallisto : "346. Orkin just named Chicago the most rat infeste ..."

Tami[/i][/b][/s][/u]: "Dow 25 points away from 23, 000. ..."

runner: "Barky Commie loyalists are fighting over which sta ..."

Mortimer - disappointed: "Two words - Grassy knoll===I ain't saying it was a ..."

Mike hammer, etc., etc.: "Geez Louise.. youse guys are getting all nutballs ..."

JackStraw: ">>Depends on what Campos would have to say, I gues ..."

TheJamesMadison: "353 Hollywood is realizing that it is incompatible ..."

Mary Poppins' Practically Perfect Piercing: "[I]Ah yes the good old maverick. Posted by: Th ..."

Mr. Peebles: "Hollywood is realizing that it is incompatible wit ..."

TheJamesMadison: "347 >>So JLaw says a female producer forced her to ..."

Recent Entries
Search


MuNuvians
Polls! Polls! Polls!
Frequently Asked Questions
The (Almost) Complete Paul Anka Integrity Kick
Top Top Tens
Greatest Hitjobs

The Ace of Spades HQ Sex-for-Money Skankathon
A D&D Guide to the Democratic Candidates
Margaret Cho: Just Not Funny
More Margaret Cho Abuse
Margaret Cho: Still Not Funny
Iraqi Prisoner Claims He Was Raped... By Woman
Wonkette Announces "Morning Zoo" Format
John Kerry's "Plan" Causes Surrender of Moqtada al-Sadr's Militia
World Muslim Leaders Apologize for Nick Berg's Beheading
Michael Moore Goes on Lunchtime Manhattan Death-Spree
Milestone: Oliver Willis Posts 400th "Fake News Article" Referencing Britney Spears
Liberal Economists Rue a "New Decade of Greed"
Artificial Insouciance: Maureen Dowd's Word Processor Revolts Against Her Numbing Imbecility
Intelligence Officials Eye Blogs for Tips
They Done Found Us Out, Cletus: Intrepid Internet Detective Figures Out Our Master Plan
Shock: Josh Marshall Almost Mentions Sarin Discovery in Iraq
Leather-Clad Biker Freaks Terrorize Australian Town
When Clinton Was President, Torture Was Cool
What Wonkette Means When She Explains What Tina Brown Means
Wonkette's Stand-Up Act
Wankette HQ Gay-Rumors Du Jour
Here's What's Bugging Me: Goose and Slider
My Own Micah Wright Style Confession of Dishonesty
Outraged "Conservatives" React to the FMA
An On-Line Impression of Dennis Miller Having Sex with a Kodiak Bear
The Story the Rightwing Media Refuses to Report!
Our Lunch with David "Glengarry Glen Ross" Mamet
The House of Love: Paul Krugman
A Michael Moore Mystery (TM)
The Dowd-O-Matic!
Liberal Consistency and Other Myths
Kepler's Laws of Liberal Media Bias
John Kerry-- The Splunge! Candidate
"Divisive" Politics & "Attacks on Patriotism" (very long)
The Donkey ("The Raven" parody)
News/Chat
Archives
Powered by
Movable Type 2.64