Home finance balance write-offs drop
OtherHome finance balances written off in the first quarter of 2013 totaled $43.3 billion, down nearly 23% from $55.4 billion a year earlier, credit reporting agency Equifax said Tuesday. According to the Equifax March National Consumer Credit Trends Report, this marks a five-year low in the number of home finance balances classified as bad debts to be written off. The loans included in the calculation are debts extinguished through foreclosure, pushed into REO status, or discharged through bankruptcy or otherwise written off by the lender. The year-over-year change in home […]
