More failing to repay mortgages on time: ST 19 Jul

Brief: MORE private home owners are not making their mortgage payments on time. The number of borrowers with delinquent mortgages – accounts that have not been paid for more than 30 days – hit 4,186 in May, up 20 per cent. Delinquent borrowers comprised 0.82 per cent of private home loans in May, up from 0.7 per cent in the same month last year.

http://townsingapore.wordpress.com/2014/07/23/more-failing-to-repay-mortgages-on-time-st-19-jul/

*****************Background Story *****************

DELINQUENT MORTGAGES

  • The number of borrowers with delinquent mortgages hit 4,186 in May, up 20 per cent from the 3,340 a year earlier.
  • Delinquent borrowers comprised 0.82 per cent of private home loans in May, up from 0.7 per cent in the same month last year.
  • Banks wrote off six mortgages in the first five months of the year, a touch up from the five bad loans in the same period last year.

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