Power Breakfast: Mortgage delinquencies decline, Ga. jobless rate falls, hotel taxes, second airport, IMF, Enron

At least mortgage delinquencies are going in the right direction.

Residential delinquencies in metro Atlanta declined in the first quarter of 2011 — the fifth consecutive three-month period in which they have fallen, AJC reporter David Markiewicz writes.

Still, metro delinquencies — at least 60 days past due — were higher than the national average, which also decreased for the fifth straight quarter, Markiewicz reports.

The data was reported by TransUnion, a credit reporting agency.

“It’s a mixed message,” said Tim Martin, group vice president of the U.S. housing market for TransUnion. While Atlanta continues to improve, he said, “it’s a long way to getting back to something like normal.”

In the first quarter of 2007, the delinquency rate in metro Atlanta was 3.2 percent, which Martin said was closer to normal, Markiewicz reports.

For the first quarter of this year, 8 percent of Atlanta’s mortgages were 60 or more days overdue. Nationwide, the average was 6.2 percent, Markiewicz writes.

Also in the AJC:

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5 comments Add your comment

paulsoliz229

May 19th, 2011
6:23 am

Over the life of a 30 year loan, a $300 per month decrease would equal over $100K in savings. Search the web for “Mortgage Refinance 123″ website they helped me find 3.118% rate easily. Strongly recommend them for anyone. Good luck.

Bill Cosby

May 19th, 2011
7:02 am

sell and then rent.. if you’re underwater.. consider waking away… huge homes are OUT.. as heating/cooling cost$ and taxe$ continue to rise.. this is the new NORMAL… get a 2nd job.. save and inve$t… sell your toys.. boats.. cancel club memberships.. go to community college… shop Wall Mart.. store brands.. do what Clark Howard says…

Joe Biden

May 19th, 2011
7:38 am

The stimulus is working … I am the greatest.

dmb

May 19th, 2011
7:46 am

i agree.. walk away.. sink the banks. they got their bail out and we’re still holding the sinking bag.

Double D

May 25th, 2011
6:43 am

100% agreed. Just walk away. This is what we did and have never looked back. The banks do it all of the time. When they have a bad investment they get rid of it. Why should people be any different? After all, it is just a smart business decision.