National Foreclosures Reach All-time High In Q4
Foreclosures in the United States reached an all-time high in the fourth quarter of 2007, the Boston Herald reported March 6, 2008.
"The Mortgage Bankers Association, in a quarterly snapshot of the mortgage market released today, said the proportion of all mortgages nationwide that fell into foreclosure shot up to a record high of 0.83 percent in the October-to-December quarter. That surpassed the previous high of 0.78 percent set in the prior quarter."
At the same time, more homeowners fell behind on their monthly mortgage payments.
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