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The inventory of homes in foreclosure awaiting resale fell slightly in April, but they are still 12.7 percent higher than they were a year ago, according to Lender Processing Services April 2011 month-end mortgage performance statistics.

Foreclosure Inventories Ebb But Still Outpace 2010

The inventory of homes in foreclosure awaiting resale fell slightly in April, but they are still 12.7 percent higher than they were a year ago, according to Lender Processing Services April 2011 month-end mortgage performance statistics.

Some 2,184,000 homes are in the presale foreclosure inventory. The total presale foreclosure inventory rate is 4.14 percent of all mortgages.

However, month-over-month mortgage delinquencies of 30-days or more rose 2.4 percent during the month. They are still 16.3 percent lower than last year at this time.

Some 4.2 million properties are more than 30 days delinquent but not in foreclosure. Of those, 1.9 million are 90 days or more delinquent. Some 6,388,000home either 30 or more days delinquent or in foreclosure.

States with highest percentage of non-current loans are Florida, Nevada, Mississippi, New Jersey and Georgia. States with the lowest percentage of non-current* loans are Montana, Wyoming, Alaska, South Dakota and North Dakota.

2 comments

  1. After a bit of a lull early in 2011 the foreclosure process appears to be picking up momentum again for Whatcom County residents.A check of the Whatcom County Auditors website shows 185 notices of trustee sales – typically the first stage of the foreclosure process – were issued in the first quarter of 2011. Of those 79 – about 43 percent of the quarterly total – were issued in March.In addition Whatcom County had 89 bank repossessions in the first three months of 2011 according to RealtyTrac an online site that tracks foreclosure properties. Washingtons was the 14th highest state rate while Nevada one in 35 housing units receiving a foreclosure filing last quarter and Arizona one in 60 topped the list.Across the U.S. 681 153 foreclosure filing notices were sent out in the first quarter of 2011 a 15 percent decrease from the previous quarter and a 27 percent decrease compared to the first quarter of 2010.Thats not a sign the housing market is improving however but that the system remains backlogged said James J.

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