7.02 Million Loans Are Now Delinquent Or In Foreclosure

LPS Applied Analytics released their September Mortgage Performance data today. According to LPS:

  • The average number of days delinquent for loans in foreclosure is now 484 days
  • In five judicial states (NY, FL, NJ, HI and ME), the average exceeds 500 days
  • Over 4.3 million loans are 90 days or more delinquent or in foreclosure
  • New problem loans (60+ days delinquent) are back on the rise

This graph provided by LPS Applied Analytics shows the per cent delinquent, per cent in foreclosure, and total non-current mortgages.

Chart

Photo: Calculated Risk

According to LPS, 9.27 per cent of mortgages are delinquent, and another 3.84 are in the foreclosure process for a total of 13.11 per cent. It breaks down as:

  • 2.64 million loans less than 90 days delinquent.
  • 2.32 million loans 90+ days delinquent.
  • 2.05 million loans in foreclosure process.

For a total of 7.02 million loans delinquent or in foreclosure.

This is similar to the quarterly data from the Mortgage Bankers Association.

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