Foreclosures, Late Payments Hit Record Levels
Home foreclosures and late payments set records in the 1Q and are expected to keep rising, which is bad news for the economy. The Mortgage Bankers Association reported that the proportion of mortgages that fell into foreclosure soared to 0.99% in the 1Q, surpassing the previous high of 0.83% in the 4Q. In addition, the mortgage payment delinquency rate jumped to 6.35% in the 1Q, compared with 5.82% for the three months earlier. Jay Brinkmann, the association's vice president of research and economics, told The Associated Press that home price declines was the biggest factor for rising foreclosures and late payments. With prices expected to continue falling, foreclosures and late payments "are going to continue to go up" in the months ahead, he said.
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Factoring, Credit and
Economy News
Date Last Updated: 06/09/2008 |
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Charter Capital services many industries. Here are just a few of the industries
we are currently financing:
Trucking and Freight
It has never been easier for trucking companies and freight brokers to get cash
with Freight Bill Factoring from Charter Capital. We purchase your freight bills
and fund you within 24 hours, so you don't have to wait to get paid.
Staffing Firms
We can help you grow your staffing company with unlimited payroll funding ,
whether you're a start up or a multi-million dollar
temp-staffing agency. Our
clients provide staffing for various industries including Professional, Office
Services, Medical, and Manufacturing.
Security Firms
Demand for security services in the USA is on the rise. Be financially prepared
to gain your share with a FactorLine facility only from Charter Capital.
Manufacturing
If your business is a manufacturing plant, distributor,
packaging company, or
any business that invoices to credit worthy customers, then a FactorLine from
Charter Capital can accommodate the working capital funding needs of both new
manufacturing companies as well as those that have been around for years.
Technology Staffing Firms
Service providers such as technology
consulting and staffing firms are great candidates for our FactorLine accounts receivable
funding service, enabling you to increase your cash flow without the need
for bank loans. We are always adding new industries and will consider factoring
service providers in any industry.
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