The Dallas Morning News Reports that "Last week, Moody's Investors Service reported that the delinquency rate in the home equity loan market rose 11 percent for the quarter ended in April from the same period a year earlier."
"According to Moody's, delinquent loans now represent nearly 7 percent of the total existing pool of home equity loans."
"This is the 11th consecutive month that the home equity delinquency growth rate has risen," Moody's Ben Garber said.
"The really bad news is that the more people who can’t pay their mortgages or home equity loans, the more likely it is that home prices will fall as they rush to sell the properties and get out of a bad situation."
Friday, September 08, 2006
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