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Mortgage Delinquencies Have Risen 25% Since Pre-Recession

Mortgage delinquencies remain elevated while other aspects of the consumer credit picture, such as bankcard performance, are improving, according to ""Experian's"":http://www.experian.com/credit-report-partner/index-g.html?WT.srch=ECDG1&bcd=vQwpOf3p&mkwid=svQwpOf3p&pcrid=7338591789&kwid=experian latest report released Friday.

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""While the trend is positive on the bankcard side, the mortgage side is continuing to suffer in most of the markets,"" Experian said in a press release.

According to the report, instances of mortgage 60-day delinquencies have risen by 25 percent from 2007, prior to the recession, while 60-day credit card delinquencies have decreased 20 percent.

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Even if consumers keep up with their credit cards, falling behind on their mortgages can deeply damager their credit score.

Of the top 30 metropolitan statistical areas, only four have shown improvements in mortgage delinquencies: Cleveland, Ohio; Minneapolis, Minnesota; Denver, Colorado; and Detroit, Michigan.

Detroit posted the greatest improvement with a 17.1 percent decline in delinquencies.

Denver ranked second with a 7.4 percent decline.

At the bottom of the list of cities posting increases in delinquencies was St. Louis, Missouri, with a 1 percent increase.

Portland showed the greatest increase in missed mortgage payments, according to Experian data. Portland delinquencies have almost doubled since 2007.

Following Portland was Phoenix with a 78.4 percent increase in delinquencies and Baltimore with a 66.8 percent increase.

Seattle and New York were also in the top five of the 30 metropolitan areas.

Experian is a global information services provider with headquarters in the U.S., the U.K., and Brazil.

About Author: Krista Franks Brock

Krista Franks Brock is a professional writer and editor who has covered the mortgage banking and default servicing sectors since 2011. Previously, she served as managing editor of DS News and Southern Distinction, a regional lifestyle publication. Her work has appeared in a variety of print and online publications, including Consumers Digest, Dallas Style and Design, DS News and DSNews.com, MReport and theMReport.com. She holds degrees in journalism and art from the University of Georgia.
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