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EmailDelinquent mortgages, foreclosures down in May
LPS Applied Analytics released their May Mortgage Performance data. According to LPS, 7.96 percent of mortgages were delinquent in May, down slightly from 7.97% in April, and down from 9.74 percent in May 2010, as reported on Calculated Risk.
LPS reports that 4.11 percent of mortgages were in the foreclosure process, down from 4.14 percent in April. This gives a total of 12.07 percent delinquent or in foreclosure. For a total of 6.35 million loans delinquent or in foreclosure in May it breaks down as:
- 2.27 million loans less than 90 days delinquent.
- 1.92 million loans 90+ days delinquent.
- 2.16 million loans in foreclosure process
For more information: www.calculatedriskblog.com/2011/06/lps-mortgage-delinquency-rates.html
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