"More than 11% of all mortgages are either delinquent or in foreclosure, according to an industry report released Thursday.
The percentage of borrowers at least one month behind in their mortgage payments - but not in foreclosure - rose to nearly 8% during the fourth quarter of 2008, according to the National Delinquency Report from the Mortgage Bankers Association (MBA). This is the highest rate of delinquency ever recorded by the survey, which began in 1972, and reflects a record 13% jump compared to the third quarter."
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Mortgage delinquencies hit new high
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