In the third quarter of 2015 consumer Mortgage delinquencies rose from a record low of 1.36% in second quarter to 1.41%.
These levels are substantially below the 15-year average of 2.25%, a level last seen roughly four years ago.
Statistically one of the lesser cost home purchases, Mobile home loans have the highest delinquency rate at 3.59%, followed by home equity lines of credit at 2.91%.
At the other end, auto loans enjoy the lowest delinquency rate at 0.74%, followed by RV loans at 0.95%. Makes perfect sence these days when dealerships offer up to 9 and 10 year car loans. People trade in after 3 or 4 years and just roll in the debit from the last loan, over and over.
I’m a firm believer that if you can not pay off a car loan in 3 years, you can’t afford it.
Don’t let the bank Foreclose, you still have rights, Call me at 321-443-4028 or email me at info@PaulAntonelli.com for more information.
Broker / Owner of NextHome Antonelli Realty
The Future Of Real Estate is HERE !
Cell; 321-443-4028 Email; Info@PaulAntonelli.com