Nearly one-in-six FHA mortgages are delinquent

As the coronavirus pandemic continues to devastate the economy around them, an alarming share of people holding America’s most accessible and affordable mortgages are behind on payments. Around 16 percent of Federal Housing Administration mortgages were in delinquency in the second quarter, according to Bloomberg. That’s the highest percentage in delinquency going back at least four decades to records starting in 1979. FHA mortgages are generally made to first-time homebuyers and low-income borrowers with credit

source https://therealdeal.com/2020/08/17/nearly-one-in-six-fha-mortgages-are-delinquent/