U.S. foreclosure inventory is at its lowest point since the end of 2008, according to a “first look” report from Lender Processing Services.
At the end of October, more than 1.2 million loans, or 2.5% of currently active mortgages, make up the national foreclosure inventory.
Foreclosure inventory throughout the country has also declined by 26% since the beginning of 2013, LPS says.
Meanwhile, delinquencies are down 2.8% in October from last month and dropped about 11% from a year ago. The current total of all delinquent loans based from the Jacksonville-based company’s loan-level database that represents approximately 70% of the overall market is a little less than 6.3%.
The number of properties that are 30 or more days past due, but not in foreclosure is approximately 3.1 million.
Mississippi overtook Florida as the state with the
“Except for the period after Katrina, Mississippi has held the dubious distinction of having the highest non-current inventory for virtually all of the history LPS tracks,” Lender Processing Services says. “So, unfortunately for Mississippians, this is more indication that things are getting back to normal.’”
States with the lowest percentage of non-current loans are Colorado, Montana, South Dakota, Alaska and North Dakota.
