(Source: Canada.com)

Alberta’s growing unemployment rolls are mixing with the home-price slump to make the province Canada’s worst for mortgage delinquencies, industry watchers say.

Albertans have fallen at least three months behind on payments on 2,579 mortgages from major banks, according to April figures released last week by the Canadian Bankers Association.

Three months of missed payments is often when lenders begin pursuing foreclosures, which have also sharply risen in Alberta — although nowhere near the devastating levels experienced in the subprime-loan-mired United States.

Read Jason Markusoff’s full article “Alberta tops for delinquent mortages” in Canada.com (June 21, 2009).

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