The percentage of homeowners late on their mortgage — or in foreclosure — soared to a new high in the third quarter: 10.27%, according to new figures released today.

A quarterly survey by the Mortgage Bankers Association (MBA) found that 7.29% of mortgagors are 30 or more days delinquent with another 2.97% in foreclosure. According to new figures released by ASR sister publication National Mortgage News, Americans owe roughly $9.54 trillion on their residences, which means almost $1 trillion in home mortgages are late. MBA said that 6.99% of all home loans outstanding were at least 30 days past due in the third quarter, up 58 basis points from the second quarter and 140 basis points from one year earlier.

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