Yuma has the 9th highest mortgage delinquency rate among small U.S. metros
YUMA, Ariz. (KYMA, KECY) - According to a study done by the Consumer Financial Protection Bureau, U.S. Census Bureau, and Zillow, Yuma is ranked in the top 10 cities with the most mortgage delinquency.
3.3% of mortgages in Yuma were at least 30 days delinquent as of December 2022.
The report also found Arizona to have a delinquency rate of 1.4%, nearly half compared to Yuma.
Other small U.S metros included in the report were Pueblo, CO ranked 11, Florence, SC ranked six and Laredo, TX ranked number one with a rate of 5.9% of mortgages were at least 30 days delinquent.
During the Pandemic, serious mortgage delinquencies experienced a 75% drop due to financial assistance programs, but now that they're up again.
Single Family Housing Program Director Godfrey Hinds shares resources they offer to avoid mortgage delinquency.
“Delinquency workout agreements for example if the family falls behind we can allow them to make up that missed payment in increments rather than one lump sum. If they become unemployed, through no fault of their own or ill then we can offer what we call a moratorium where we can stop their payments for a maximum of two years,” Single Family Housing Program Director, Godfrey Hinds said.
To learn more about the program and see if you qualify you can click here.
