A look behind the numbers

September 5, 2008

The doom and gloom headlines in foreclosure and mortgage delinquencies are being strongly influenced by what is going on in just two states, California and Florida.

“The national foreclosure numbers continue to be driven by the hardest hit states continuing to get much worse. The increases in foreclosures in California and Florida overwhelmed improvements in states like Texas, Massachusetts and Maryland,” said Jay Brinkmann, the Mortgage Bankers Association’s Chief Economist and Senior Vice President for Research and Economics. “For the quarter, a majority of the states saw relatively little change one way or the other. California and Florida alone accounted for 39 percent of all of the foreclosures started in the country during the second quarter and 73 percent of the increase in foreclosures between the first and second quarters.” (emphasis added)

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Posted by Howard | Filed Under Blog, Mortgage / Finance 

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