Sam Gendusa September 16, 2013

National statistics reported by Lender Processing Services, Inc. show signs of economic recovery. As a nation, we are still surrounded by many challenging situations, such as an overwhelming number of mortgage delinquencies, short sales, and foreclosures. However, a slow decrease of delinquencies and lowered national foreclosure rates are signs leading to economic recovery.

Here’s a brief overview of statistics reported by Lender Processing Services, pointing to an overall national decline in delinquencies and foreclosures:

  • The foreclosure rate in July 2013 was 2.82 percent and 3.46 percent in June. A year ago, the foreclosure rate was 30.76 percent.
  • Since February 2009, the foreclosure inventory rate is at its lowest.
  • 4.6 million mortgages are behind on payments, including foreclosures and delinquencies. 3.19 million are past due by at least 30 days, but not in foreclosure. 1.35 million properties are past due by 90 days or more. 1.41 million are in foreclosure inventory.
  • The national delinquency rate accounts for loans that are 30 days or more past due. In June 2013, the rate was 6.7 percent and 6.41 percent in July 2013. This is a monthly decrease of 3.96 percent and a yearly decrease of 8.76 percent.
  • States with the highest percentage of past due loans, in order, are Florida, Mississippi, New Jersey, New York, and Maine.
  • States with the lowest percentage of non-current loans, in order, are Wyoming, Montana, Alaska, South Dakota, and North Dakota.

These statistics showing reduced delinquency rates and lowered foreclosure inventory are great hints that economic recovery is around the corner. However, states like Florida, Mississippi, and New Jersey still have mounds of foreclosures, short sales, and delinquencies to sort through. If you are a real estate attorney or a mortgage professional with a full staff handling issues with foreclosures, Blue Streak Docs is here to help. We are a document retrieval company, with special services catering to professionals in the real estate industry. Handling the details associated with document recording, property title searches, and judgment searches, the Blue Streak Docs staff is here to assist your team! For more information about our services and rates, contact us today at 727-479-0007.

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