Mortgage Delinquency Rates Predict More Foreclosures Ahead

Keeping a close eye on the California real estate market, BankForeclosuresSale.com reports that, statewide, foreclosures have increased for the third-consecutive month.

And, based on mortgage delinquency rates, more foreclosures are expected. For example, an article in "Builder," a magazine for the home building industry, reported that an estimated 13.9 percent of Stanislaus County, CA homeowners with mortgages are 90 days or more behind on their payments, according to First American CoreLogic. The delinquency rate is 17.4 percent in Merced and 14.5 percent in San Joaquin. Nationwide, the rate is 6.5 percent