Late payments on mortgages grow in Iowa - KWWL - Eastern Iowa Breaking News, Weather, Closings

Late payments on mortgages grow in Iowa

DES MOINES (KWWL) -- Iowa's foreclosure rate fell slightly in the third quarter, but late payments on mortgages grew in the same period.

The report by the Mortgage Bankers Association shows that a record one in 10 home mortgages nationwide was either delinquent or in foreclosure.

According to the MBA, people in Iowa are in foreclosure than a year ago, and the numbers are better than the second quarter, too.

The bad news, though, is that the number of past-due prime mortgages and subprime loans is up, as is the number of prime mortgages and subprime loans in foreclosure compared to a year ago.

Online Executive Producer Nate Leding

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