Trans Union Says Mortgage Delinquencies up 50 percent in 2009

The percentage of borrowers at least 60 days past due on their mortgage increased for the 12th straight quarter, hitting 6.89 percent by the end of 2009, according to new data released by Trans Union Tuesday. This precursor to foreclosure increased 10.24 percent from the previous quarter, and compared to the year-ago delinquency rate of 4.58 percent, past due mortgages are up a staggering 50 percent, Trans Union said.

The shadow inventory in Arizona, according to my sources may result in a double of REO inventory from last year.

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