So, those 6,985,000 homes that are at least 30 days past due all the way up to pre-sale foreclosure inventory, how can go into foreclosure? Granted I know I'm lumping together very different stats, but if all 2,038,000 pre-sale inventory go into foreclosure, 90% of the 2,573,000 of 90 days past due go into foreclosure, and 50% of the 2,374,000 of 30 days past due go into foreclosure; there will be total of 5,540,000 homes in foreclosure. If my assumptions are right that's huge shadow inventory.
Friday, September 17, 2010
More Delinquent Home Loans Entering Foreclosure Pipeline in August
From Lender Processing Service, these statistics speaks volumes
Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure): 9.22%
Month-over-month change in delinquency rate: -1.0%
Year-over-year change in delinquency rate: -5.1%
Total U.S foreclosure pre-sale inventory rate: 3.80%
Month-over-month change in foreclosure presale inventory rate: 1.5%
Year-over-year change in foreclosure presale inventory rate: 4.9%
Number of properties that are 30 or more days past due, but not in foreclosure: (A) 4,947,000
Number of properties that are 90 or more days delinquent, but not in foreclosure: 2,374,000
Number of properties in foreclosure pre-sale inventory: (B) 2,038,000
Number of properties that are 30 or more days delinquent or in foreclosure: (A+B) 6,985,000
States with highest percentage of non-current* loans: FL, NV, MS, GA, IL
States with the lowest percentage of non-current* loans: MT, WY, AK, SD, ND
So, those 6,985,000 homes that are at least 30 days past due all the way up to pre-sale foreclosure inventory, how can go into foreclosure? Granted I know I'm lumping together very different stats, but if all 2,038,000 pre-sale inventory go into foreclosure, 90% of the 2,573,000 of 90 days past due go into foreclosure, and 50% of the 2,374,000 of 30 days past due go into foreclosure; there will be total of 5,540,000 homes in foreclosure. If my assumptions are right that's huge shadow inventory.
So, those 6,985,000 homes that are at least 30 days past due all the way up to pre-sale foreclosure inventory, how can go into foreclosure? Granted I know I'm lumping together very different stats, but if all 2,038,000 pre-sale inventory go into foreclosure, 90% of the 2,573,000 of 90 days past due go into foreclosure, and 50% of the 2,374,000 of 30 days past due go into foreclosure; there will be total of 5,540,000 homes in foreclosure. If my assumptions are right that's huge shadow inventory.
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