Skip to main content
(404) 685-8800 Contact Us
Mortgage delinquencies increase in third quarter Atlanta, GA

Personal Attention & Experience Since 1971 Family-Owned, Family Focused

Client Reviews

Mortgage delinquencies increase in third quarter

driveway of a detached house

From June to September of this year, the rate of homeowners who were delinquent on their mortgages increased. According to credit reporting agency TransUnion, 5.88 percent of mortgage holders were more than 60 days late on at least two mortgage payments, an increase from the previous quarter’s rate of 5.82. Only 10 states and the District of Columbia did not experience an increase in delinquency rates.

Economists had predicted that the delinquency rate would fall during the third quarter, so the increase was a surprise to most. There seems to be no apparent basis for the increase in delinquency, which is an early sign of potential repossession and foreclosure, so economists are working to find the reason for the jump.

Generally, an increase in delinquency is a direct reflection of a raise in the unemployment rate or a decline in housing prices. Both of those factors held steady through much of the third quarter, however, with housing prices even improving slightly in most major U.S. cities during the summer months.

The larger economic issues that played out during July and August may have affected homeowners, economists believe. For example, the United States’ credit rating was downgraded, many European countries experienced a debt crisis, and the U.S stock market suffered as a result of those and other factors. After an economic rollercoaster of a summer, reports indicated that consumer confidence was way down. This could lead homeowners to question the value of paying their mortgage.

Regardless of the reason, this hopefully will not lead to another jump in foreclosures. If you believe you are at risk of foreclosure, it may be in your best interest to contact an Atlanta bankruptcy attorney to discuss your options.

Source: CBS News, “Late mortgage payments up in 3Q, 1st rise in years,” Nov. 8, 2011

Posted on behalf of Gingold & Gingold

1718 Peachtree St NW, #385
Atlanta, GA 30309

Phone: (404) 685-8800

First Free
Appointment



Disclaimer Privacy Policy

I have read the Disclaimer and Privacy Policy

Our Client Reviews

Gingold & Gingold LLC
5.0 / 5.0

Based on 28 reviews

Jack L.

They did an excellent job with my case. Jamie took the time to really listen and understand things. She delved into the details and was extremely knowledgeable and non judgmental. Very professional and they know what they are doing. Would definitely recommend!

All C.

Mr. Gingold was recommended by an attorney I had worked with previously. I met with Ira Gingold to discuss credit issues. He went over each specific issue thoroughly. He advised me of the potential outcomes. He did all this in one meeting for a very reasonable price. When we finished I was confident in moving forward with a resolution. He definitely wants to help people take the appropriate course of action for their circumstance.

Karen B.

Dear Mr Gingold, There are so many reasons to be thankful for all you have done and will do. Anyone who has ever had unfavorable experiences with an attorney or the legal system will feel the trepidation that I experienced once I realized that my situation seemed hopeless. It was by chance and happily good luck that I decided to put my future and sanity into your hands. I was mortified at having to deal with my debts by claiming bankruptcy. I remember in our first meeting how you assured me that I was not alone and should not feel ashamed. And, anyone in this position obviously does not have money to spare and you were clear about all the costs and allowing me to pay according to my own ability to do so. You advised me in all aspects of the law, but also, you were at each meeting incredibly supportive and complementary of my personal and professional plans. Anyone else in this situation should feel blessed to have access to your expertise and support.

Lyla B.

I thought the process of filing bankruptcy was going to be a difficult one. However, Gingold & Gingold treated me with respect and dignity from the moment I walked through their door. I had the pleasure of working with Jamie. She is very responsive, professional, and knowledgeable. She took the time and listened to my every concern and handled each and every one of them to my satisfaction. My experience with filing bankruptcy under Gingold & Gingold's representation exceeded my expectations in a major way. They gave me such a peace of mind. I am very pleased with my decision of going with Gingold & Gingold to represent me when I filed Chapter 13 bankruptcy.

Julie T.

Wow! I am finally out of debt and can say that I am debt free after completing my chapter 7 bankruptcy case with Gingold and Gingold. Mr dangled was very knowledgeable and direct with regard to my debt situation. there were no surprises and the case went as I was advised. The staff was also very helpful whenever I had a question. I will definitely recommend them in the future to my friends.

Sherard W.

I cannot say enough about this law firm. From the initial consultation to our discharge, the entire office kept me updated with every step of the entire process. I came to the Gingold after a bad experience with another law firm. Ira and Jamie immediately began treating me like family through this experience. In the end, they assisted with eliminating many debts including my 2nd mortgage. I cannot say enough about the experience and knowledge that Ira brought to the table from the office visits to the court time. Thank you very much for helping me through this tough time. Thank you.

Write a review