Mortgage Delinquencies and Foreclosures Decline in U.S.; St Louis may be lagging behind

dennis-norman-mortgage-delinquences-foreclosureIn October 7.03 percent of homeowners with a mortgage were delinquent on their loan payments, this is a decline of almost 5 percent from the month before and 7.19 percent less than the year before, according to Lenders Processing Services’ First Watch report.  Foreclosure pre-sales (borrowers somewhere in the foreclosure process but have not yet lost their homes) declined 6.77 percent from the month before and was down 15.99 percent from a year ago.  LPS does not break out data specific to St. Louis but recent data from RealtyTrac showed that St Louis foreclosure activity increased over 10 percent in October from the month before and was up over 7 percent from a year ago, so St Louis may be lagging behind the national trend in terms of improvement in foreclosure rates.

Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure): 7.03%
Month-over-month change in delinquency rate: -4.91%
Year-over-year change in delinquency rate: -7.19%
Total U.S. foreclosure pre-sale inventory rate: 3.61%
Month-over-month change in foreclosure presale inventory rate: -6.77%
Year-over-year change in foreclosure presale inventory rate: -15.99%
Number of properties that are 30 or more days past due, but not in foreclosure: (A) 3,500,000
Number of properties that are 90 or more days delinquent, but not in foreclosure: 1,543,000
Number of properties in foreclosure pre-sale inventory: (B) 1,800,000
Number of properties that are 30 or more days delinquent or in foreclosure: (A+B) 5,300,000
States with highest percentage of non-current* loans: FL, MS, NJ, NV, NY
States with the lowest percentage of non-current* loans: MT, WY, SD, AK, ND

Source: Lenders Processing Services

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