12/07/2011 12:56 EST | Updated 02/05/2012 05:12 EST

TransUnion predicts sharp drop in late payments on mortgages in 2012 as foreclosures clear

NEW YORK, N.Y. - Credit reporting agency TransUnion forecasts that if the U.S. economy does not suffer more setbacks, the rate of mortgage holders behind on their payments should decline significantly by the end of next year.

Mortgage delinquency rates