About one in seven U.S. households with mortgages are behind on their payments or in foreclosure, according to new data from the Mortgage Bankers Association. That's up from about one in 10 a year ago.
The trade group reported Thursday that 14.4% of first-lien mortgages on one- to four-family homes in the third quarter were 30 days or more overdue or in the foreclosure process. That is the highest since the MBA began reporting such data in 1972 and works out to about 7.5 million households at risk of losing their homes. The percentage is up from 10% a year earlier and 7.3% two years ago.