(Undated) - More than one in every ten home loans in Indiana are delinquent according to a new report.
The Mortgage Bankers Association says Hoosiers saw the delinquency rate for mortgages rise six percent in the second quarter to 10.35 percent. That makes Indiana the 12th worst state for the rate of delinquencies.
About 32 percent of Indiana homeowners with a subprime adjustable-rate loan were behind on payments.
According to the Indianapolis Star, CoreLogic said Thursday that 11 percent of all home mortgages in Indiana in the second quarter had negative equity, meaning the borrower owes more on their mortgage than their home is worth.
Mortgage Bankers Association - http://www.mbaa.org/NewsandMedia/PressCenter/73799.htm