Nationwide, the rate of homeowners who have fallen behind 60 days or more on their mortgage payments has dropped to its lowest level in more than three years, according to TransUnion, one of the three national credit bureaus.
The rate for the first quarter of 2012 came in at 5.78% and the bureau reported that his reverses two quarters of increases that began in the third quarter of last year.
"To see that quarter over quarter, and year over year, more homeowners were able to make their mortgage payments is certainly welcome news," said Tim Martin, group vice president of U.S. Housing in TransUnion's financial services business unit.
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