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Defaults on Insured Mortgages Reach Record 

Dec 31, 2007By

The number of insured mortgages in default reached a record high in November, according to data released Monday by the Mortgage Insurance Companies of America. The trade group, which represents most of the nation’s mortgage insurers, said that number of insured borrowers falling more than 60 days late on payments jumped to 61,033 last month — up from from 45,325 one year ago and 59,308 in October.

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