BUSINESS
09/20/2009 05:12 am ET Updated May 25, 2011

McClatchy: What Rebound? Foreclosures Rise As Jobs, Income Drop

WASHINGTON -- Numbers reported Thursday by the Mortgage Bankers Association show clearly that rising job losses are worsening the nation's housing troubles and threaten the Obama administration's efforts to keep owners from losing their homes.

The quarterly National Delinquency Survey showed that almost one in 10 homeowners with a mortgage was at least one payment late, and thus delinquent, while another 4 percent had entered the foreclosure process on their loan.

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