Las Vegas’ mortgage-delinquency rate lower than US average
By Arina Hanciulescu, RealtyPros
(RealtyPros)
Las Vegas, as we know, was the foreclosure capital of America during the recession. Job losses soared as borrowers throughout the valley fell behind on their mortgage and lost their home to lenders. But in a break from recent history, Las Vegas is showing signs that its mortgage woes, at least in one way, are not as bad as they are nationally. Locally, 4.3 percent of borrowers were at least 30 days late on their payments in February, compared to 4.8 percent nationally. It was the seventh consecutive month that Las Vegas’ mortgage-delinquency rate was lower than the U.S. average, according to figures from housing tracker CoreLogic. Even if homeowners have financial problems, he added, the market is strong enough so they can sell their house, letting them avoid foreclosure. Still, Las V...
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