By Nick Timiraos | The Wall Street Journal
The share of homeowners behind on mortgage payments or facing foreclosure fell to a five-year low in the second quarter, though the number is still well north of historical levels, according to a survey released Thursday.
The Mortgage Bankers Association said 5.9% of mortgages on one-to-four-unit homes were at least 90 days past due or in the foreclosure process at the end of June—representing around 2.8 million households, down from a peak of 4.5 million. The second-quarter figure was down from 7.3% in the year-earlier period and a high of 9.7% in late 2009.
