According to the Associated Press, data recently released by the Mortgage Bankers Association (MBA) shows that the number of Americans at risk of foreclosure improved slightly over the summer, but not enough to indicate the housing market crisis is almost over. The number of homeowners who missed at least one mortgage payment in 2010’s third quarter dropped to about 9.1 percent from 9.9 percent in the second quarter and a high of more than 10 percent in the first quarter, after adjusting for seasonal factors. Additionally, the percentage of mortgage holders who were seriously delinquent (i.e., at least 90 days past due) fell from 4.8 percent to 4.3 percent. But it may take several years before these modest improvements translate into housing market security. MBA’s Vice President of Research and Economics stated, "We still have three to four years to work through this overhang of delinquent loans.”
