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Delinquencies Still Falling but Foreclosures at an All-Time High

December 2, 2011

Delinquencies Still Falling but Foreclosures at an All-Time High

12/01/2011 By: Carrie Bay

Data released by Lender Processing Services (LPS) Thursday shows mortgage delinquencies are continuing to decline, now nearly 30 percent below their January 2010 peak.

Loans in the process of foreclosure, on the other hand, are steadily rising. LPS says foreclosure inventories reached an all-time high at the end of October, making up 4.29 percent of all active mortgages.

The average days delinquent for loans in foreclosure extended as well during the month of October, setting a new record of 631 days since last payment, while the average days delinquent for loans 90 or more days past due but not yet in foreclosure

From: http://ping.fm/6NWMx

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