Real Estate Terms Glossary
What is Delinquency?
Note that a mortgage hits delinquency when you, the borrower, do not make the required payments in a timely manner. If you continue to fall behind, the bank or lender might foreclose on the property, and take it back from you. The delinquency rate also refers to the total percentage of past due loans, indicating the quality of a bank or lending company’s loan portfolio.
Learn about what’s included in mortgage notes .
Examples of Delinquency
- Example 1: Delinquent loans
- Example 2: Delinquent mortgages
Here’s Investopedia’s definition of delinquency .
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