Number of Felonies Gone Down
Number of Felonies Gone Down
Equifax has announced that the total number of first mortgage delinquents has gone down $500 billion dollars in March 2012; this has been the lowest it has ever been since January in 2009.
According to the March National Consumer Credit Trends Report of Equifax and Creditdorcase.com, the number has fallen to 49.5 million outstanding mortgages that’s almost an 11% drop in from the previous 55 million cases during the same period last 2008.
79 percent of the total breaches in the home equity credit categoryis from the 2005 to 2007 loans. The credit levels are continually falling in the past weeks. Recently it has dropped by 25 percent from $ 1.3 trillion in the year 2008.
More good news:
The balances in first mortgages are at below 3.5 percent compared to the number in March last year. The decline has been continuous every year for 36 successive months.
The number of first mortgage loans that has exceeded the 30 day past due rule is at its lowest, this is lower than the one recorded on June 2007.
The past 60 days due to past 90 days due are also at their lowest levels. The share of loans that are in their worse cases that have been due past 90 days has also fallen over in 24 months.
Existing liabilities for home equity revolving credit have dropped by 17 percent from the month of March in 2009 to this year.
The percent of credit lines opened January of this year has risen by 16% than January 2009, but is 67% lesser than the January 2008 record.
Rates, balances and ratios of credit limits have been stable at 55% since March 2009. The credit available however has decreased from $575 billion to only about $470 billion.
Home equity installment loans went down to 46%, now it is $150 billion from $275 in 2008. The total rate of crimes is also lower by 14% in March 2011.
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Filed under: home equity loan • home loans • Loans • mortgage • mortgage loans • mortgage loans for people with bad credit • Mortgage Refinance
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