The total mortgage loan delinquency rate is 7.57% for February, down 5% from January's 7.97% and nearly 14% from February 2011, according to Lender Processing Services' "first look" at its monthly default data.
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There are 3.8 million properties which are more than 30 days late on their mortgage payments but not yet in foreclosure (a subset of this is the 1.7 million properties 90 days late but not in foreclosure).
Add to that the 2.1 million properties in the foreclosure pre-sale inventory, it brings the combined total to 5.8 million distressed properties impacting the system.
The total U.S foreclosure pre-sale inventory rate for February was 4.13%, down less than a percentage point on both a year-over-year and month-to-month basis.
