LPS = Loans 90+ Days Delinquent, Loans in Foreclosure Outnumber Foreclosure Sales Fifty to One + Banks repossess $304 billion in soured mortgages in 2010

[mEDITate-OR:
discover for yourself that the foreclosure mess is much worse than even we thought it was...
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There are two must read article out.
Here are some of the low-high-lights
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the number of mortgages that are 90 or more days delinquent,
combined with the foreclosure inventory at the end of May, 
totaled 4,084,557.
With foreclosure sales at 78,676 at month end,
the volume of serious delinquencies and foreclosures
over-shadowed the number of foreclosure sales by 50:1
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Banks repossessed $304 billion on foreclosed mortgages in 2010
more the double the combined amount in 2006 and 2007
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The number is still climbing and shows no signs of peaking
As of May, roughly $319.7 billion of mortgages written in 2006 and 2007 reached the initial stage of the foreclosure process
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Roughly 3% of all mortgages in the country
representing $21.8 billion of principal
are in REO
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Roughly two-thirds of the past-due balances on delinquent mortgages
were written between 2005 and 2007
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Part of the purpose of reading these is to fully understand the posting below.
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LPS = Loans 90+ Days Delinquent, Loans in Foreclosure
Outnumber Foreclosure Sales Fifty to One
http://www.worldpropertychannel.com/us-markets/residential-real-estate-1/lps-may-mortgage-monitor-report-lender-processing-services-problem-loans-distressed-sales-home-foreclosures-foreclosure-sales-default-rates-negative-equity-4482.php
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Banks repossess $304 billion in soured mortgages in 2010
http://www.housingwire.com/2011/06/30/banks-write-off-304-billion-in-soured-mortgages-in-2010-equifax
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