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Mortgage Delinquencies Rise in June, Foreclosure Starts Fall to 2008 Levels
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
READY TO TAKE IT TO THE NEXT LEVEL?
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
Mortgage Delinquencies Rise in June, Foreclosure Starts Fall to 2008 Levels
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
Mortgage Delinquencies Rise in June, Foreclosure Starts Fall to 2008 Levels

August 14, 2012 (Shirley Allen)

Mortgage delinquencies increased for the third consecutive month in June, rising 3.4 percent from May, but were still seven percent lower than last year according to the latest Mortgage Monitor Report released by Lender Processing Services (LPS).

The percentage of loans that were 30 days or more past due, but not yet in foreclosure, increased to 7.14 percent in June from 6.91 percent in May, the third consecutive month that the delinquency rate has increased following nine months of declines. The delinquency rate was still 7.3 percent lower than what it was in June 2011 when the delinquency rate stood at 7.71 percent.

However, seriously delinquent loans, those that are 90 days or more past due, fell for the sixth consecutive month to 7.24 percent from 7.28 percent in May.

Foreclosure starts fell by 20.7 percent from May to June, with 173,556 starts reported compared to 218,909 in May, the lowest amount of new foreclosure starts since 2008. A year ago there were 218,423 foreclosure starts.

The foreclosure inventory decreased 2.0 percent in June to a total of 2.061 million properties. The foreclosure inventory was 1.0 percent lower than a year ago, but at the current rate of 4.09 percent, remains near all-time highs.

In states that utilize the judicial foreclosure process, 6.4 percent of all loans were somewhere in the foreclosure pipeline compared to 2.4 percent in non-judicial states.

Nearly 60 percent of the homes in foreclosure in states that use the judicial process haven’t made a payment in two years or more, while in non-judicial states it’s about half of that amount. Regardless of the type of foreclosure process a state uses, the number of homeowners who haven’t made a payment in two years or more continues to climb.

Earlier highlights from LPS’s “First Look” report include:

Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure): 7.20% compared to 6.19% in May 2012

Month-over-month change in delinquency rate: 3.4%

Year-over-year change in delinquency rate: -7.3%

Total U.S foreclosure pre-sale inventory rate: 4.09%

Month-over-month change in foreclosure presale inventory rate: -2.0%

Year-over-year change in foreclosure presale inventory rate: -1.0%

Number of properties that are 30 or more days past due, but not in foreclosure: (A) 3,602,000

Number of properties that are 90 or more days delinquent, but not in foreclosure: 1,590,000

Number of properties in foreclosure pre-sale inventory: (B) 2,061,000 compared to

Number of properties that are 30 or more days delinquent or in foreclosure: (A+B) 5,663,000

States with highest percentage of non-current* loans: FL, MS, NV, NJ, IL (FL, MS, NJ, NV, IL in May 2012)

States with the lowest percentage of non-current* loans: MT, AK, WY, SD, ND (MT, AK, SD, WY, ND in May 2012)

*Non-current totals combine foreclosures and delinquencies as a percent of active loans in that state.

Notes:
(1) Totals are extrapolated based on LPS Applied Analytics’ loan-level database of mortgage assets.
(2) All whole numbers are rounded to the nearest thousand.

Tags: LPS, mortgage delinquency rate, foreclosure inventory, non-current loans

Source:
LPS

What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
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Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
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August 14, 2012 (Shirley Allen)

Mortgage delinquencies increased for the third consecutive month in June, rising 3.4 percent from May, but were still seven percent lower than last year according to the latest Mortgage Monitor Report released by Lender Processing Services (LPS).

The percentage of loans that were 30 days or more past due, but not yet in foreclosure, increased to 7.14 percent in June from 6.91 percent in May, the third consecutive month that the delinquency rate has increased following nine months of declines. The delinquency rate was still 7.3 percent lower than what it was in June 2011 when the delinquency rate stood at 7.71 percent.

However, seriously delinquent loans, those that are 90 days or more past due, fell for the sixth consecutive month to 7.24 percent from 7.28 percent in May.

Foreclosure starts fell by 20.7 percent from May to June, with 173,556 starts reported compared to 218,909 in May, the lowest amount of new foreclosure starts since 2008. A year ago there were 218,423 foreclosure starts.

The foreclosure inventory decreased 2.0 percent in June to a total of 2.061 million properties. The foreclosure inventory was 1.0 percent lower than a year ago, but at the current rate of 4.09 percent, remains near all-time highs.

In states that utilize the judicial foreclosure process, 6.4 percent of all loans were somewhere in the foreclosure pipeline compared to 2.4 percent in non-judicial states.

Nearly 60 percent of the homes in foreclosure in states that use the judicial process haven’t made a payment in two years or more, while in non-judicial states it’s about half of that amount. Regardless of the type of foreclosure process a state uses, the number of homeowners who haven’t made a payment in two years or more continues to climb.

Earlier highlights from LPS’s “First Look” report include:

Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure): 7.20% compared to 6.19% in May 2012

Month-over-month change in delinquency rate: 3.4%

Year-over-year change in delinquency rate: -7.3%

Total U.S foreclosure pre-sale inventory rate: 4.09%

Month-over-month change in foreclosure presale inventory rate: -2.0%

Year-over-year change in foreclosure presale inventory rate: -1.0%

Number of properties that are 30 or more days past due, but not in foreclosure: (A) 3,602,000

Number of properties that are 90 or more days delinquent, but not in foreclosure: 1,590,000

Number of properties in foreclosure pre-sale inventory: (B) 2,061,000 compared to

Number of properties that are 30 or more days delinquent or in foreclosure: (A+B) 5,663,000

States with highest percentage of non-current* loans: FL, MS, NV, NJ, IL (FL, MS, NJ, NV, IL in May 2012)

States with the lowest percentage of non-current* loans: MT, AK, WY, SD, ND (MT, AK, SD, WY, ND in May 2012)

*Non-current totals combine foreclosures and delinquencies as a percent of active loans in that state.

Notes:
(1) Totals are extrapolated based on LPS Applied Analytics’ loan-level database of mortgage assets.
(2) All whole numbers are rounded to the nearest thousand.

Tags: LPS, mortgage delinquency rate, foreclosure inventory, non-current loans

Source:
LPS

What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
Calculate how much you can afford
BUYING OR SELLING A HOME
IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

August 14, 2012 (Shirley Allen)

Mortgage delinquencies increased for the third consecutive month in June, rising 3.4 percent from May, but were still seven percent lower than last year according to the latest Mortgage Monitor Report released by Lender Processing Services (LPS).

The percentage of loans that were 30 days or more past due, but not yet in foreclosure, increased to 7.14 percent in June from 6.91 percent in May, the third consecutive month that the delinquency rate has increased following nine months of declines. The delinquency rate was still 7.3 percent lower than what it was in June 2011 when the delinquency rate stood at 7.71 percent.

However, seriously delinquent loans, those that are 90 days or more past due, fell for the sixth consecutive month to 7.24 percent from 7.28 percent in May.

Foreclosure starts fell by 20.7 percent from May to June, with 173,556 starts reported compared to 218,909 in May, the lowest amount of new foreclosure starts since 2008. A year ago there were 218,423 foreclosure starts.

The foreclosure inventory decreased 2.0 percent in June to a total of 2.061 million properties. The foreclosure inventory was 1.0 percent lower than a year ago, but at the current rate of 4.09 percent, remains near all-time highs.

In states that utilize the judicial foreclosure process, 6.4 percent of all loans were somewhere in the foreclosure pipeline compared to 2.4 percent in non-judicial states.

Nearly 60 percent of the homes in foreclosure in states that use the judicial process haven’t made a payment in two years or more, while in non-judicial states it’s about half of that amount. Regardless of the type of foreclosure process a state uses, the number of homeowners who haven’t made a payment in two years or more continues to climb.

Earlier highlights from LPS’s “First Look” report include:

Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure): 7.20% compared to 6.19% in May 2012

Month-over-month change in delinquency rate: 3.4%

Year-over-year change in delinquency rate: -7.3%

Total U.S foreclosure pre-sale inventory rate: 4.09%

Month-over-month change in foreclosure presale inventory rate: -2.0%

Year-over-year change in foreclosure presale inventory rate: -1.0%

Number of properties that are 30 or more days past due, but not in foreclosure: (A) 3,602,000

Number of properties that are 90 or more days delinquent, but not in foreclosure: 1,590,000

Number of properties in foreclosure pre-sale inventory: (B) 2,061,000 compared to

Number of properties that are 30 or more days delinquent or in foreclosure: (A+B) 5,663,000

States with highest percentage of non-current* loans: FL, MS, NV, NJ, IL (FL, MS, NJ, NV, IL in May 2012)

States with the lowest percentage of non-current* loans: MT, AK, WY, SD, ND (MT, AK, SD, WY, ND in May 2012)

*Non-current totals combine foreclosures and delinquencies as a percent of active loans in that state.

Notes:
(1) Totals are extrapolated based on LPS Applied Analytics’ loan-level database of mortgage assets.
(2) All whole numbers are rounded to the nearest thousand.

Tags: LPS, mortgage delinquency rate, foreclosure inventory, non-current loans

Source:
LPS

THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makes it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS