Foreclosures down, delinquencies down, and more good news

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.

image 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.

Click here to read more from LPS.

About Andrew Kantor

Andrew is VAR's editor and information manager, and -- lessee now -- a former reporter for the Roanoke Times, former technology columnist for USA Today, and a former magazine editor for a bunch of places. He hails from New York with stops in Connecticut, New Jersey, Cincinnati, Columbus, and Roanoke.
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