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St. Louis Real Estate Search

 

Initial report shows increased mortgage delinquencies and foreclosure inventory in September


Dennis Norman

A “first-look” report issued by Lender Processing Services, one of the countries largest loan servicers and aggregators of loan performance data, shows that things are not getting better on the “home-front”….The U.S. mortgage delinquency rate (not including foreclosures) for September was 9.27 percent, a 0.6 percent increase from the month before, however it is a 7.8 percent decrease from the year before. The foreclosure rate for September was 3.84 percent, a 1.1 percent increase from the month before and a 3.6 percent increase from the year before.

Highlights from the report as of the end of September, 2010:

  • States with the highest percentage of delinquent mortgage loans were Florida, Nevada, Mississippi, Georgia and Louisiana
  • States with the lowest percentage of delinquent mortgage loans were Montana, Wyoming, Alaska, North Dakota and South Dakota
  • Nationwide there were 4.963.000 properties that were 30 or more days past due, but not in foreclosure
  • Nationwide there were 2.319.000 properties that were 90 or more days past due, but not in foreclosure
  • Nationwide there were 2,055,00 properties that were in foreclosure
  • Nationwide there was a total of 7,018,000 properties that were 30 or more days delinquent or in foreclosure
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