If you walked out in the streets of Laredo, you’ll have a better-than-average chance of encountering someone dealing with mortgage delinquency.
According to WalletHub’s new report on the Cities with the Highest Mortgage Delinquency Rates, the Texas city ranked highest among 100 major localities where people are at the biggest risk of credit score damage and foreclosure.
“Laredo, Texas, is the city where people are most delinquent on their mortgages, with more than 23% of mortgages in delinquent status as of Q2 2024,” said Chip Lupo, a WalletHub analyst. “This is significantly higher than the delinquency rate in other major cities, with no other city in our study surpassing 17%. The one piece of good news is that Laredo residents’ delinquency rate is declining; even though it’s still the highest in the nation, it experienced a nearly 10% decrease between Q1 2024 and Q2 2024.”
Detroit ranked second with over 16% of mortgages delinquent as of the second quarter of this year, with Louisiana’s capital city Baton Rouge ranking third at 15%. Philadelphia and Newark rounded out the top five cities on the new list, while Honolulu was ranked as the city with the least mortgage delinquencies.
Photo: Downtown Laredo, courtesy Not home / Wikimedia Commons
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