Mortgage Delinquencies Up 54% Year-over-Year

The percentage of home loan borrowers who are least 60 days past due on their mortgage rose 54% between the third quarter of 2007 and the third quarter of this year, according to TransUnion.com. Nationally, 3.96% of homeowners were 60 or more days past due in the third quarter, marking the seventh consecutive quarter of rising overdue rates, according to TransUnion. That delinquency rate, considered a precursor to foreclosure, was up 12% from the second quarter. States with the highest delinquency rates were Florida, at 7.82%, and Nevada, at 7.71%, the company said. The lowest overdue rates were found in North Dakota, South Dakota and Montana, states where the 60-day overdue rate remained below 2%. Average mortgage debt per borrower stood at $192,287 nationally.