More homeowners in the US are having difficulty paying their mortgage, with payments delayed by 60 days or more climbing to the highest level in the third quarter since Q4 2009, according to TransUnion.
US homeowners who missed at least two payments rose to 6.44 percent, up from 5.82 percent in Q2 2011 and 5.88 percent in Q3 2010.
Tim Martin, Group Vice President (U.S. Housing) at TransUnion, said the jump is the result of unemployment and the noticeable deterioration in housing prices.
“It’s much different than we’ve been talking about the last few quarters,” he said.
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