FHA mortgage delinquencies reach a record

  • Federal Housing Administration mortgages -- the affordable path to homeownership for many first-time buyers, minorities and low-income Americans -- now have the highest delinquency rate in at least four decades.

    Federal Housing Administration mortgages -- the affordable path to homeownership for many first-time buyers, minorities and low-income Americans -- now have the highest delinquency rate in at least four decades. Bloomberg photo by Andrew Harrer.

 
 
Posted8/23/2020 6:15 AM

Millions of Americans stopped paying their mortgages after losing jobs in the coronavirus crisis. Those on the lower end of the income scale are most likely to have FHA loans, which allow borrowers with shaky credit to buy homes with small down payments.

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