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Foreclosures at highest nationwide since 1979

Foreclosures and late mortgage payments have hit record highs nationwide for the first three months of 2008, leaving few immune, according to a new report. The Mortgage Bankers Association says those

News 12 Staff

Jun 6, 2008, 1:07 AM

Updated 5,890 days ago

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Foreclosures and late mortgage payments have hit record highs nationwide for the first three months of 2008, leaving few immune, according to a new report.
The Mortgage Bankers Association says those numbers are expected to continue to rise. The numbers of new foreclosures and late payments are at their highest since 1979, according to the study.
Lynn Law, of the Long Island Housing Partnership, says the organization has been working nonstop to help homeowners negotiate their mortgages. She says she?s already seen the amount of clients the first few months of 2008 that she saw in all of 2007.


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