1.37% of all first mortgages in the U.S. entered foreclosure proceedings in Q1, a record jump...

|By:, SA News Editor
1.37% of all first mortgages in the U.S. entered foreclosure proceedings in Q1, a record jump from 1.08% in Q4 and the highest level on record. Mortgage delinquencies leaped to 9.12%, also a record. Total loans in foreclosure process also struck a new high of 3.85% from 3.3% in Q4.