Mortgage delinquencies jumped to highest rate in 20 years

first_imgA new report by CoreLogic showed mortgage payments that are over 120 days delinquent rose to 1.4 percent in July, its highest level since 1999 (iStock)The coronavirus has managed to send the U.S. housing market surging in opposite directions simultaneously.On one end, demand for new mortgages and homes is surging as buyers look to take advantage of rock-bottom interest rates and eager sellers.On the other end, homeowners across the country are struggling amid the upended economy, and can’t make their loan payments.Late-stage mortgage delinquencies rose to 1.4 percent among borrowers in July, the highest level since 1999, according to a new report from CoreLogic. The July numbers represent the latest available data and stand in contrast to pre-Covid March, when late-stage delinquencies — 120 days or more — stood at just 0.1 percent.“Many homeowners are beginning to feel the compounding pressures of unstable income and debt on personal savings buffers, creating heightened risk of falling behind on their mortgages,” said Frank Martell, president and CEO of CoreLogic in a statement.ADVERTISEMENTMiami, which was one of the epicenters of the housing crisis in 2008, reported one of the highest rates of mortgage delinquencies in July. In Miami, payments that were more than 30 days late rose to 12.1 percent, up from 5 percent in July 2019. Mortgages that were more than 90 days delinquent in Miami totaled 8.4 percent in July, up from 2 percent year over year.New York City also recorded one of the highest delinquency rates in July. Mortgages with delinquencies over 30 days totaled 10.5 percent, compared to 5 percent in July 2019. Mortgages that were more than 90 days late rose to 7.5 percent in New York, up from 2.5 percent a year ago.And in Los Angeles, mortgage delinquencies over 30 days totaled 6.3 percent, up from 2.3 percent year over year; delinquencies of more than 90 days totaled 4.1 percent, up from 0.6 percent in July 2019.Nationwide, all states saw increases in delinquency rates of 30 days or more and 90 days or more because of the pandemic, the data shows. States that reported the highest rates included Florida and New York, along with New Jersey and Nevada.Many state governments and federal agencies have enacted moratoriums on evictions and foreclosures, preventing foreclosures from happening even as delinquencies increase. A foreclosure moratorium on home mortgages backed by Fannie Mae and Freddie Mac extends through December. This content is for subscribers only.Subscribe Nowlast_img read more

Beckham proceeding with plans to have MLS team in Miami

first_imgBeckham proceeding with plans to have MLS team in MiamiNews circulating last weekend that British soccer star, David Beckham plan to drop plans to bring a Major League Soccer team and build a stadium in South Florida was a rumor. The rumor also stated Beckham would take  the MLS franchise to Las Vegas being frustrated at attempts to secure a suitable stadium site in South Florida.However, Beckham’s South Florida investment group,  Miami Beckham United, told local media the British soccer icon is still making efforts to have the stadium located on a site in Overtown, Miami, while seeking additional investors for the project.The group, in a statement, said the investors are “100 percent committed to Miami,” and are making progress in their plans to have the stadium built in Overtown.According to reports, there is pressure on Beckham and his investment group to finalize their arrangements to launch the new MLS franchise in South Florida. The reports stated MLS Commissioner Don Garber has given a deadline to finalize the stadium deal in Miami, if not Beckham’s Miami franchise, which would be the 24th team in the MLS nationally, is in danger going to another team.Beckham has experienced several frustrating setbacks in securing a site for the soccer stadium in Miami since securing the MLS franchise in February, 2014. The group originally tried securing a site close to the Port of Miami, but met strong opposition from political and business leaders. Another attempt failed to locate the stadium  located adjacent to the Miami Marlins Park in Miami. Several months ago, the group settled on six acres of land it purchased in Overtown. The group has been in negotiations with Miami-Dade County to purchase an adjacent 3-acres to finalize the stadium site. With the estimated cost of the stadium being $150 million, the group has also been actively seeking new investors.West Kendall soccer coach Richard Donaldson, who with other local coaches are anxious for Beckham’s MLS team to commence playing in South Florida, expressed “sickening frustration at the ups and downs” in getting the stadium finalized. “Soccer is a promising, motivating sport for South Florida’s youth, male and female. The presence of a MLS team locally would be a great source of inspiration to the youth, helping them to improve their soccer skills. We really want this frustrating delay to end,” Donaldson said.last_img read more

Wizard World Comic-Con Once Again a Huge Hit For Fans in Cleveland

first_imgCLEVELAND – It’s become a staple for collectors, sci-fi, and just about anyone who loves super heroes or fantasy characters, and once against this weekend Comic-Con Cleveland presented by Wizard World was a big hit at the Huntington Convention Center.The event, which began Friday and ended today, was chock full of celebrity guests and artists, and also there was a lot of great merchandise from t-shirts to figures, Funko Pops, and DVD’s of old hard to find TV shows and cartoons.Cosplay was also a big part of the event as always, with fans dressing up and taking part with others in photo ops all weekend long.Fans from all over Northeast Ohio and other nearby locations came to the event over three days taking in all the sights and sounds of the event as they waited for TV and film stars to take to the stage for pictures and autographs.Dr.Who and DC’s Justice League had a big role in the event this year, as two of the biggest Dr. Who celebs from the show were in Cleveland, that being David Tennant and Billie Piper, and two of the actors from the DC movie ‘Justice League’ Ezra Miller (The Flash) and Ray Fisher (Cyborg) took the autograph/photo-op stage as well.Among the other celebrity guests included Jon Heder (Napoleon Dynamite), Nichelle Nichols (Star Trek), James Marsters (Buffy the Vampire Slayer), Thomas Ian Nicholas (American Pie, Rookie of the Year).The event will return to Cleveland in 2019 – and will take place from March 8th, 9th and 10th. Click HERE to see some pics from last year’s event!Click the boxes for photos of the event! Pages: 1 2 3 4 5 6 7 8 9 10 11 12 13 Related TopicsDavid TennantEzra MillerJames MarstersRay FisherWizard World Comic-Con Matt Loede Matt Loede has been a part of the Cleveland Sports Media for over 21 years, with experience covering Major League Baseball, National Basketball Association, the National Football League and even high school and college events. He has been a part of the Cleveland Indians coverage since the opening of Jacobs/Progressive Field in 1994, and spent two and a half years covering the team for 92.3 The Fan, and covers them daily for Associated Press Radio. You can follow Matt on Twitter HERE.last_img read more

Rooney reveals why he accepted a Championship challenge

first_imgFormer Manchester United footballer Wayne Rooney has agreed to an 18-month contract with Championship side Derby County.Big news shook the world of football today, as Wayne Rooney is set to return to England to play with Championship side Derby County.The still-DC United footballer will have a player/coach role at his new club.“The opportunity to come back to England and play, but also to take up a coaching role with the club and work under (Derby boss) Phillip (Cocu) was too great for me to turn down,” he told talkSPORT.“I’m delighted to be back there and I’m looking forward to being back in January to help the team try and push forward and push for promotion.”“Firstly I’m a player,” he said.“I feel I’ve got a lot of quality I can bring to the squad.”“First and foremost I’m coming to play and to help the team, and second I want to learn off Phillip and his staff, to gain experience for when I do stop playing and go on to that next step,” he commented.wayne rooney, harry kane, englandReport: Rooney talks Engalnd Kane and Guardiola George Patchias – September 12, 2019 Wayne Rooney has spoken of his England record, Harry Kane smashing it and Pep Guardiola for England.In an interview on his Wayne Rooney podcast…“I think it’s great to see them going into management but it’s not just about what they’re doing now.”“This is something I always had as an ambition to do. It’s great these young English managers are getting opportunities,” he continued.“Over the last 15 or 20 years, we’ve not seen so many great ex-England players coming through so it’s great to see them doing that.”“It’s something I always wanted to do when the time is right so hopefully it’s something I can move into,” Rooney concluded.”I felt that the ambitions of the club match mine, in terms of where I want to go with my career.” – @WayneRooney 👊#WR32— Derby County (@dcfcofficial) August 6, 2019last_img read more