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Friday, February 18, 2011

New Report shows delinquencies dropping.

This is caused by two factors 1) Banks are not recording the new delinquencies 2) some loans are being modified and once that happens it considered current.
Although delinquencies remained relatively stable month-over-month, there were still about 6.9 million properties more than 30 days delinquent or in foreclosure. Foreclosure pre-sale inventory accounted for 4.16% of the homes on the market, up 0.2% from December and up 7.9% from January 2009. That amounts to a total 2.2 million homes.
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