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Survey shows Nevadans above average in paying mortgages

Thursday, Sept. 9, 2004 | 11:12 a.m.

Fewer Nevada consumers are falling behind on their mortgage payments than their national counterparts, a new survey said.

Of Nevada's 420,060 mortgages serviced in the second quarter of 2004, 3.56 percent were past due, including 0.23 percent in foreclosure, said a survey released Wednesday by the Mortgage Bankers Association of America.

Nationally, 4.43 percent of loans were past due, with 0.39 percent in foreclosure.

Of those overall numbers, the rate of delinquencies among subprime loans -- loans available to consumers with credit problems -- was 10.04 percent, with a foreclosure rate of 1.18 percent nationally. In Nevada, the delinquency rate was 5.69 percent with 0.54 percent foreclosure rate.

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