Traditionally, this statistic has been seen as a precursor to foreclosure and it rose by 10.24 percent from the previous quarter's 6.25 percent average. Mortgage borrower delinquency increased by around 50 percent, up from 4.58 percent. These rates in the fourth quarter of 2009 were the highest in Florida and Nevada, meanwhile the lowest mortgage delinquency rates were seen in South Dakota, Alaska, and North Dakota. Areas that demonstrated the largest amount of increase in delinquency from the quarter before were the District of Columbia, Louisiana and Delaware. Every single state in the nation saw an increase in mortgage delinquency rates.

For the mortgage sector in the fourth quarter, the news that was published and collected was not completely dismal. Thirty eight Metropolitan Statistical Areas actually revealed a decrease in their mortgage loan delinquency rates since the last quarter. Areas in Pennsylvania, Indiana and Oregon claimed the most improved credit conditions.

A small bit of hopeful information is that in the third and fourth quarters of 2008, the average price of single family homes that already existed dropped almost seven percent between 2008's third and fourth quarters, but in 2009 it only dropped -0.4 percent between the third and fourth quarters of 2008. These changes in delinquency reflect the idea that the recession and its eventual recovery are both localized in unemployment level and house pricing conditions.

So, what does this mean for the future? Well, TransUnion feels that 60 day mortgage delinquencies will hit its peak between 7.5 and 8 percent over the course of 2010. They also expect North Dakota to continue to boast the lowest mortgage delinquency rate by the summer, and feel that Nevada will suffer from the highest mortgage delinquency rate by the middle of 2010.

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As house prices diminish and with interest-only mortgages on the decline, more homeowners actually owe more on their mortgages than what their house is worth. It doubtlessly has occurred to many homeowners that this makes sense, as many are defaulting on mortgage payments as we speak.

Here's a quick breakdown to explain the situation. You buy a house for $400,000 that is now worth only $300,000. Thanks to an interest-only mortgage, you still are in arrears for $400,000. If you eliminated this off of your balance sheet, your net worth will increase by $100,000. You'd still need a place to live, but from this point you could purchase a more affordable house or rent for a bit of time.

However there is one large drawback to abandoning your house. If you do, you will trash your credit rating, making it difficult or even impossible to rent an apartment, get a new mortgage, and even a job. There is a huge drawback to abandoning your responsibilities. If you walk away, you will destroy your credit rating, making it more difficult or impossible to rent an apartment, qualify for a new mortgage, and perhaps get a job.

New legislation is out now to be of assistance to families facing foreclosure, which will encourage people to pick alternative options other than abandonment.

Mallory Megan works for a debt collection company. She also composes stories about consumer spending, business and finance, and debt collection.