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4.3 Million Homes Are 90 Days Delinquent Or In Foreclosure

LPS Applied Analytics released their November Mortgage Performance data. According to LPS: The average number of days delinquent for loans in foreclosure is a record 499 days Over 4.3 million loans are 90 days or more delinquent or in foreclosure Delinquency rates are down across all products as more loans entered foreclosure and new delinquencies declined. Foreclosure inventory increases are being driven both by elevated levels of foreclosure starts as well as a very limited amount of foreclosure sale activity. The percent in the foreclosure process is trending up because of the foreclosure moratoriums. According to LPS, 9.02% of mortgages are delinquent (down from 9.29% in October), and another 4.08% are in the foreclosure process (up from 3.92% in October) for a total of 13.10%. It breaks down as: 2.61 million loans less than 90 days delinquent. 2.16 million loans 90+ days delinquent. 2.16 million loans in foreclosure process. For a total of 6.92 million loans delinquent or in foreclosure.

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