SC foreclosures rise along with rest of the nation
Friday, March 07, 2008COLUMBIA (AP) -- A national lender association reports that the percentage of South Carolina homes in foreclosure increased in the last quarter of 2007 and could go higher.
According to the Mortgage Bankers Association, 1.86 percent of South Carolina mortgages were in foreclosure as of December 31. That's up from 1.68 percent at the end of the previous quarter.
And more could be coming. The Mortgage Bankers Association report shows that 6.79 percent of South Carolina homeowners are at least a month behind on their house payments. The State newspaper of Columbia reported Friday that is the highest level since 1991.
Nationally, the delinquency rate for all mortgages climbed to 5.82 percent, the highest since 1985. The rate was 5.59 percent in the third quarter last year.
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