Mortgage Delinquencies Remain Flat as Foreclosures Rise

November 19 2010 (Jeff Alan)
foreclosures-skyrocket
Foreclosure inventories continue to rise in October even though the amount of mortgage payments reported late remained flat. The percentage of homes that had loans 30 days or more past due but not in foreclosure was 9.29 at the end of October which was an increase of 0.1 percent from September but down 8.4 percent from a year ago.

According to the monthly “First Look” Mortgage Report from Lender Processing Services (LPS) a total of 4,953,000 properties had associated mortgages that were 30 days or more past due, but not in foreclosure.

A total of 2,238,000 properties had mortgages that were 90 days or more past due, but still not in foreclosure. The number of homes in foreclosure pre-sale was 2,090,000 and the number of homes that are over 30 days delinquent or in foreclosure was 7,043,000.

The foreclosure pre-sale inventory (homes that are in some stage of foreclosure) rate increased to 3.92 percent, up 2.1 percent from a month earlier and 5.2 percent from a year ago.

The five states with the lowest delinquency rates in October were North Dakota, South Dakota, Alaska, Wyoming, and Montana

The five states with the highest delinquency rates for October were Florida, Nevada, Mississippi, Georgia, and Louisiana.

Tags: mortgage delinquencies, foreclosure, mortgage payments, mortgages, lowest delinquency rates, highest delinquency rates