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One in Seven

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Here's the sobering news, courtesy of the Wall Street Journal: "About one in seven American households with mortgages is behind on payments or in foreclosure, according to new data from the Mortgage Bankers Association. That is up from about one in 10 a year ago." That translates to 7.5 million households nationwide that are at risk, the highest number seen since 1972, the year MBA began tracking such data. On the upside, if unemployment figures slow down next year, delinquencies may also slow. [WSJ]