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IPFS News Link • Housing

Delinquencies Up 21 Percent: Arizona Third for Late Mortgage Loans

Delinquent loans jumped 21.3 percent in February compared with a year earlier, according to the latest Mortgage Monitor report released by Lender Processing Services Inc. Monday. Florida beat all other states with 23.8 percent of its foreclosed inventory and noncurrent loans to active loans during the same period. Nevada came in second at 23.3 percent, followed by Arizona in third, but with a much lower percentage — 16.3. That compares with a national average of 13.5 percent.