FHA mortgages require only a small down payment and are a path to homeownership for many lower-income, minority, and first-time homebuyers. But many are clearly in financial trouble. The Mortgage Bankers Association says nearly 16% of Federal Housing Administration-insured loans are delinquent — the highest level in records going back to 1979. … But … the Association says the vast majority of these homeowners missing payments are in forbearance plans sanctioned by Congress and are therefore protected from foreclosure.