Wednesday, November 24, 2010

LPS: Mortgages entering foreclosure fell 4.4% in October + Foreclosure inventories rise in October while yearly delinquency rate drops

[mEDITate-OR:
not see the different interpretation given to the same report/numbers.
and
not see that the foreclosure problem is NOT merely robo-signing.
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According to LPS, 9.29 percent of mortgages are delinquent, and another 3.92 are in the foreclosure process for a total of 13.20 percent. It breaks down as:
• The average number of days delinquent for loans in foreclosure is a record 492 days
• Over 4.3 million loans are 90 days or more delinquent or in foreclosure
• Foreclosure sales plummeted by 35% in October (as a result of the widespread moratoria)
• Nearly 20% of loans that have been delinquent more than two years are still not in foreclosure
• 2.72 million loans less than 90 days delinquent.
• 2.24 million loans 90+ days delinquent.
• 2.09 million loans in foreclosure process.
For a total of 7.04 million loans delinquent or in foreclosure.
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Delinquency Rate
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LPS: Mortgages entering foreclosure fell 4.4% in October
http://www.housingwire.com/2010/11/24/lps-mortgages-entering-foreclosure-fell-4-4-in-october
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LPS: Over 4.3 million loans 90+ days or in foreclosure
http://www.calculatedriskblog.com/2010/11/lps-over-43-million-loans-90-days-or-in_23.html
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