1 in 10 face foreclosure

le't take a look
____________

WASHINGTON — One in 10 American households with a mortgage was at risk of foreclosure this summer as the government's efforts to help have had little impact stemming the housing crisis.

About 9.9% of homeowners had missed at least one mortgage payment as of June 30, the Mortgage Bankers Association said Thursday.

That number, which is adjusted for seasonal factors, is down slightly from a record-high of more than 10% as of April 30.

In a worrisome sign, the number of homeowners starting to have problems with their mortgages rose after trending downward last year. The number of homes in the foreclosure process fell slightly, the first drop in four years.

The news comes despite record low mortgage rates. Rates fell to the lowest level in decades for the ninth time in 10 weeks as concerns grow that the economy is weakening.

Mortgage buyer Freddie Mac said Thursday that the average rate for a 30-year fixed loan was 4.36% this week, down from 4.42% last week. That's the lowest since Freddie Mac began tracking rates in 1971.

http://www.usatoday.com/money/economy/housing/2010-08-26-mortgages-foreclosure_N.htm