WASHINGTON, D.C. (Houston Business Journal) – Does Texas have fewer delinquent mortgages than other states? A new report says yes.
According to the Federal Housing Finance Agency’s Foreclosure Prevention Report, Texas is among states with the lowest rate of seriously delinquent mortgages. During the first quarter, only 1.5 percent of the 1.74 million Fannie Mae and Freddie Mac loans in the state were delinquent by three months or more, or in foreclosure.
Statewide, 94,531 loans had undergone foreclosure prevention action between October 2008 and March 2012. An additional 526,168 loans have been refinanced between April 2009 and March 2012.
Topping the list was Florida, with a delinquency rate of more than 8 percent, followed by Nevada and New Jersey, with rates between 6 and 8 percent, respectively. The lowest delinquency rates were found in Alaska, North Dakota and Wyoming.