By John Gittelsohn, Bloomberg
Delinquencies on U.S. home loans surged by 1.6 million in April, the biggest one-month gain ever, as soaring job losses fueled a 90% jump in missed payments and government programs offered penalty-free delays.
Mortgages at least 30 days in arrears almost doubled to 6.45%, the highest rate since January 2015, according to data compiled by Black Knight Inc. About 3.4 million loans were more than 30 days late and an additional 211,000 properties were in foreclosure or on track for repossession by lenders.
In California, 5.7% of loans were not current in April vs. a peak of 15.7% in February 2010.
“While April saw a record single-month increase in the national delinquency rate, the data shows that the vast majority of
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