More Videos
- Buffett's Predictions For Next Year—And Every Year
- Cyber Monday: The Last Vestige of Dotcom Hype
- Governments Must Act to Avoid More Dubais: El-Erian
- Dubai Stocks Shed 7%, Abu Dhabi Tumbles 8%
- The World's Biggest Debtor Nations
- Goldman Sachs Party Ban: No Gatherings of 12 or More
- Fed Tweaking Plan to Pull Money Back out of Economy
- Scientists Gone Wild: Climate Debate Turns Nasty
- Regulators Compile Global List of 'Systemic Risk' Banks
- Cyber Monday: The Last Vestige of Dotcom Hype
- Dubai Fear is 'Noise'—Stay Fully Invested: Strategist
- Tech Comes to Holiday Shopping's Rescue?
- Timeless and Time-Tested Warren Buffett Watch Predictions
- Roginsky: The Botax Whose Time Has Come
- Buy or Hold: Analyst Rates 10 Retail Stocks
- Execs: Tis The Season To Take Control
- November Winners & Losers
- Farrell: Testing Those International Waters Again
MOST SHARED
- Dubai Stocks Shed 7%, Abu Dhabi Tumbles 8%
- Timeless and Time-Tested Warren Buffett Watch Predictions
- Governments Must Take Steps To Avoid More Dubais: El-Erian
- Black Friday Sales Disappoint Investors; Amazon Up
- US Senator Opposes Fed Chief Bernanke Renomination
- Tiger Woods Wants to Protect Family Privacy: Agent
- Dubai's Nakheel Seeks Suspension $5.25 Billion in Bonds
- Dubai is Harsh Reminder of Prolonged Global Recovery
- BofA Aims to Clearly Spell Out Credit Card Terms
Text Size 
Defaults on mortgages insured by the Federal Housing Administration (FHA) rose in February from a year ago, the Wall Street Journal reported, quoting a FHA spokesman.
At the end of last month, 7.46 percent of FHA-insured loans were "seriously delinquent", up from 6.16 percent a year earlier, the spokesman told the paper. Seriously delinquent mortgages include loans that are 90 days or more overdue, in foreclosure or bankruptcy.
The FHA, which is part of the Department of Housing and Urban Development, insures mortgage lenders against the risk of defaults on home mortgages that meet its standards. FHA-insured loans are available on loans with down payments of as little as 3.5 percent of the home's value.
As of January, the cities with the highest FHA default rates were Punta Gorda, Fla., at 18 percent; Detroit, 15.6 percent; Flint, Mich., 15.1 percent; Fort Myers-Cape Coral, Fla., 15 percent, and Elkhart-Goshen, Ind., 12.1 percent, according to report by the Department of Housing and Urban Development.
Foreclosed FHA homes owned by the Department of Housing and Urban Development totaled 39,687 in January, up 22 percent from the same period last year, the paper said.
Print
Email
- Ever wished your cab driver would stop chatting and just get to where you're going? Well, that moment is closer than ever.
- UPS is giving its customers the option to offset its carbon emissions when sending a package.
- Raising alligators is hard work, and the fickle taste of rich consumers has just made it much harder, says the NY Times.
- The continued real estate boom in China is partially fueled by a generational flood of newlyweds.
- From the why-didn’t-I-think-of-that file, we present Jason Sadler, a man whose job is wearing T-shirts.
- Shopping for a gadget hound? The choices can be baffling. Here are a few that should be a hit.
Data is a real-time snapshot *Data is delayed at least 15 minutes