The Delinquency Rate on Home Mortgages Has Decreased

The Mortgage Bank Assn. reported that the delinquency rate on home mortgage has decreased. However, there is an increase with foreclosure activity, especially in California.  Private analysts have stated that the nation has only dealt with 50% of the foreclosure crisis. There still is a lot that needs to be done to completely clean up this foreclosure mess.
  
It was reported that the foreclosure crisis has been going on for 5 years. "California reported the fifth highest rate with new foreclosures being at 1.5% in the latest quarter". At the beginning, California had the highest rate with loans that resulted in foreclosure. They are now being reported at 19th on the list due to California not needing the court system to assist them with foreclosure. They are able to streamline more foreclosures than in most other states.