Data released by Lender Processing Services (LPS) Monday shows that foreclosure starts were up in August by 19.7 percent when compared to the previous month.
However, LPS noted in its report that the 247,957 foreclosures initiated in August represents a 12.2 percent decline from a year earlier.
At the same time, of the approximately 4 million loans that are either 90 or more days delinquent or in foreclosure, the number in the 90-plus day delinquency bucket – 2,148,179 – has contracted to levels not seen since 2008, according to LPS’ study.
That’s not the only indicator of improvement LPS documented for problem loans. The company’s latest report also showed that, of loans that were current six
months prior, 1.4 percent had become seriously delinquent by August.
LPS says that percentage is less than half the rate seen in 2009, when the loan deterioration rate peaked at 2.9 percent.
Monday, October 3, 2011
Foreclosure Starts are Down Over 12% From Last Year - Real Estate News Walnut Creek
via dsnews.com
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