Realtor.com warns of a housing crisis on the horizon for 10 US cities with the highest number of delinquent FHA loans. In August, nearly 17.4% of the 8 million FHA-backed mortgages were delinquent while 11.2% of these mortgages were seriously delinquent. FHA mortgages are aimed at borrowers who may be first-time, minority, or lower-income, Realtor.com says.
Atlanta’s metro region has the most delinquent mortgages—53,000 to be exact. Houston has the second highest number of delinquent FHA loans, followed by Chicago, Washington, DC, and Dallas. The same areas where foreclosures hit hardest during the Great Recession are the same neighborhoods at risk now.