Late Mortgage Payments Triple In California

View of LA from the Hollywood sign.

As COVID-19 continues to affect millions of homeowners across the country, the impact is being felt heavily in the state of California, as The East Bay Times reports that late mortgage payments in the state tripled in May.

As COVID-19 continues to affect millions of homeowners across the country, the impact is being felt heavily in the state of California, as The East Bay Times reports that late mortgage payments in the state tripled in May.

"In May, 6.85% of California mortgages were estimated to be 'non-current,' that’s a troubled-loan category that includes mortgages with missed payments plus those formally in the foreclosure process. The rate’s 228% jump in six months from 2.1% was topped by only two states: Alaska—up 256%—and Nevada—up 236%," according to The East Bay Times.

Read more about California's increase in late mortgage payments.

This article originally appeared in the National Mortgage Professional print magazine.

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Written by 
Navi Persaud
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Late Mortgage Payments Triple In California
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Late Mortgage Payments Triple In California

June 23, 2020
by
Navi Persaud

As COVID-19 continues to affect millions of homeowners across the country, the impact is being felt heavily in the state of California, as The East Bay Times reports that late mortgage payments in the state tripled in May.

"In May, 6.85% of California mortgages were estimated to be 'non-current,' that’s a troubled-loan category that includes mortgages with missed payments plus those formally in the foreclosure process. The rate’s 228% jump in six months from 2.1% was topped by only two states: Alaska—up 256%—and Nevada—up 236%," according to The East Bay Times.

Read more about California's increase in late mortgage payments.

Written by 
Navi Persaud

Navi is the Director of Online Content for American Business Media in West Hartford, Conn.

npersaud@ambizmedia.com

These articles are powered by National Mortgage Professional

Late Mortgage Payments Triple In California
June 23, 2020 12:01 PM
by
Navi Persaud
Servicing

As COVID-19 continues to affect millions of homeowners across the country, the impact is being felt heavily in the state of California, as The East Bay Times reports that late mortgage payments in the state tripled in May.

"In May, 6.85% of California mortgages were estimated to be 'non-current,' that’s a troubled-loan category that includes mortgages with missed payments plus those formally in the foreclosure process. The rate’s 228% jump in six months from 2.1% was topped by only two states: Alaska—up 256%—and Nevada—up 236%," according to The East Bay Times.

Read more about California's increase in late mortgage payments.

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