We are still seeing record high mortgage delinquencies. Unfortunately, new delinquencies are outpacing loss mitigation efforts. The loans are still not being modified quick enough to keep loans from going bad. The number of new delinquencies since January 1, 2009, still exceeds the trial loan modificaitons number by 25 percent.
The Mortgage Monitor report today from the Lender Processing Services revealed that the numbers are really staggering.
Loans delinquent/in foreclosure process: 7.5 million
REO/Post-sale foreclosure: 1 million
Loans that were current 1/1/09 and 60+ days delinquent 1/1/10: 2.5 million
I find this to be the most interesting fact:
More than 31 percent of loans that have been delinquent for six months are not yet in foreclosure, while 22.8 percent of loans delinquent for 12 months have not been moved to foreclosure status (up from 9.0 percent in 2008).
About Kathleen Mazzocco
- Kathleen Mazzocco, Realtor in Anthem, AZ Relocation to Scottsdale, AZ
- Scottsdale, AZ, United States
- Kathleen has worked with a variety of clients and employees from across and outside of the country, and this has given her a firm grasp of all the details that need to be considered when buying a home in Scottsdale, Anthem, or other areas of Phoenix, Arizona. Kathleen is a AZ Corporate Relocation Professional, and Buyer's Agent. She doesn't just help you find the home you want, she also insures that you're settling in well and that you have all the information you need in order to enjoy the highest-quality lifestyle Arizona has to offer. Begin your plan moving to Arizona with Kathleen today. It's a buyer's market right now, so there are great opportunities for you to land the home of your dreams for much less than you ever imagined possible. Acquiring property foreclosures, short sales, and bank owned homes are ways you can save in today's market. As Certified Distressed Professional she can negotiate the best possible price and terms for you. Please browse through Kathleen's website and let Kathleen Mazzocco help you come home to Arizona,search the newest home listings at www.KathleenInAZ.com.