Sociable

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.

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