St Louis Mortgage Blog

St Louis Home Mortgage and Refinancing News -

News:  Credit Card Delinquencies = Mortgage Delinquencies?

According to Transunion, credit card delinquency rates in the July-September quarter were highest in states with the highest rates of foreclosure filings.

The highest credit card delinquency rates occurred in Nevada, where the
delinquency rate was 1.98 percent; in Florida, where the card default rate was 1.47 percent; and Arizona, where the rate was 1.35 percent.

These three states also topped the foreclosure rate chart in the July-September quarter. Nevada was first in the chart, with a foreclosure ratio of one in 23; Florida was fourth, with a ratio of one in 56; and Arizona was second, with a foreclosure rate of one out of every 53 housing units.

This shows that this foreclosure epidemic is getting worse every day and if you are sitting on the sidelines, you are wasting your time. You need to get in now.

Based on an analysis by the Mortgage Bankers Association, these three states, together with California, accounted for 43 percent of all foreclosure filings and bank repo houses throughout the U.S. in the July-September quarter. 

So we've now determined that mortgage delinquencies are directly related to credit card delinquencies and we can assume that it's directly related to personal (non-mortgage) debt.

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Consumers who are facing high-interest debts and want financial relief, a St. Louis refinancing loan may be the answer.  Call the home loan and refinance experts at 314-698-4092. 

Liberty Lending Consultants will be happy to give you personalized lending service and answer any questions you may have.  Ask for Steve Swan or Doug Stahlschmidt.