A tenth of US mortgages 'in trouble'

A record one in 10 Americans with a mortgage are either in arrears or having their house repossessed, according to latest figures.

A tenth of US mortgages 'in trouble'
Fri, 05 Dec, 2008 - 15:34

A record one in 10 Americans with a mortgage are either in arrears or having their house repossessed, according to latest figures.

The Mortgage Bankers Association said today the percentage of loans at least a month overdue or in foreclosure in September was up from 9.2% in the April-June quarter, and from 7.3% a year earlier.

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