Oct 04, 2011
Foreclosures down, delinquencies down, and more good news
04 Oct 2011
Posted by Andrew Kantor
A bunch of good news on the foreclosure front.
According to the folks at Lender Processing Services (LPS to you and me), foreclosures in August were down more than 12 percent over August 2010, even though they’re at a high for the year.
Also of note: If you expand the field to cover both loans already in foreclosure and those that are 90 days or more delinquent — that number is at its lowest level since 2008.
And this: Looking at loans that were current in February, only 1.4 percent had become seriously delinquent by August — “a rate of less than half of the peak of 2.9 percent in 2009,” per LPS.
Finally, the number of loans moving out of foreclosure and into “delinquent” hit an all-time in August. It seems that various programs aimed at keeping people in their homes are working.