Serious Delinquency

Filed Under » , ,
Dictionary Says

Definition of 'Serious Delinquency'

When a single-family mortgage is 90 days (or more) past due and the bank considers the mortgage in danger of default. Once a mortgage is in default, a lender typically initiates foreclosure proceedings.
Investopedia Says

Investopedia explains 'Serious Delinquency'

Borrowers who are delinquent in making their mortgage payments should contact their lender to see what options (other than foreclosure) exist. Foreclosure is time-consuming and expensive for a lender, and in certain situations the lender might offer options other than foreclosure to save themselves time and money. Some of these options include forbearance, deed in lieu of foreclosure, loan modification, or a short refinance.

Articles Of Interest

  1.

    How Interest Rates Affect The Housing Market

    Understand how rate changes can affect home prices, and learn how you can keep up.

  2. Mortgages: How Much Can You Afford?

    Answering this means number-crunching as well as factoring in other considerations and expenses.

  3. Make A Risk-Based Mortgage Decision

    Find out how to choose which mortgage style is right for you.

  4. How Credit Card Delinquency Works

    The more you understand about delinquency, the better prepared you'll be to handle it.

  5. Option ARMs: American Dream Or Mortgage Nightmare?

    Option adjustable rate mortgages could make or break your home-buying experience.

  6. Mortgage Asset-Liability Management Made Easy

    Should you refinance your mortgage to purchase other assets? Learn how to weigh your risk.

  7. How To Keep Costs Low When Refinancing Your Home

    With interest rates still being relatively low, now is a great time to capitalize on refinancing your home. Be aware of what fees are involved in a refinance, and how to keep these costs low.

  8. 6 Asset Allocation Strategies That Work

    Your portfolio's asset mix is a key factor in whether it's profitable. Find out how to get this delicate balance right.

  9. American Vs. European Options

    These two options have many similar characteristics, but it's the differences that are important.

  10. Pay Attention To The Proxy Statement

    Don't overlook this overview of a company's well-being.
comments powered by Disqus
Marketplace
Hot Definitions

  1. Network Effect

    A phenomenon whereby a good or service becomes more valuable when more people use it. The internet is a good example...

  2. Racketeering

    Racketeering refers to criminal activity that is performed to benefit an organization such as a crime syndicate. Examples of racketeering activity include...

  3. Lawful Money

    Any form of currency issued by the United States Treasury and not the Federal Reserve System, including gold and silver coins, Treasury notes, and Treasury bonds. Lawful money stands in contrast to fiat money, to which the government assigns value although it has no intrinsic value of its own and is not backed by reserves.

  4. Fast Market Rule

    A rule in the United Kingdom that permits market makers to trade outside quoted ranges, when an exchange determines that market movements are so sharp that quotes cannot be kept current.

  5. Absorption Rate

    The rate at which available homes are sold in a specific real estate market during a given time period.

  6. Yellow Sheets

    A United States bulletin that provides updated bid and ask prices as well as other information on over-the-counter (OTC) corporate bonds...
Trading Center