5:56 am December 9, 2009, by Henry Unger
Finally, there’s a study with a little good news on the mortgage delinquency front.
AJC reporter Paul Donsky writes that the percentage of Georgia mortgage holders late on their payments may start dropping next year, according to a study released Tuesday by TransUnion, one of the nation’s largest consumer credit rating firms.
TransUnion estimates that the proportion of Georgia borrowers at least 60 days late on their house payments will drop from 7.37 percent at the end of this year to 6.68 percent at the end of 2010, Donsky reports.
That would mark the first dip in Georgia’s mortgage delinquency rate since the housing crisis erupted more than two years ago.
“We do believe things will begin to improve; however, it will take some time,” said FJ Guarrera, vice president with TransUnion’s financial services group.
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