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According to a recent report from Lender Processing Services, the national real estate market received some positive news regarding its distressed sector in August.
Overall, 8.13 percent of the nation's mortgages were delinquent in August, which represents a 2.5 percent decline from July and an 11.8 percent drop from the year before.
In addition, the nation's foreclosure pre-sale inventory rate was relatively unchanged between months. In August, 0.1 percent more distressed inventory was available to consumers than in July. Compared to August 2010, however, inventory levels were up 8.2 percent.
Overall, 4.25 million properties were at least 30 days past due, but not yet in foreclosure, while 1.87 million homes were 90 days or more late on payments. The report also revealed that the foreclosure pre-sale inventory totaled 2.15 million properties during August, while 6.40 million units were 30 days past due or in foreclosure.
Among the states with the highest percentage of non-current loans were Florida, Mississippi, Nevada, New Jersey and Illinois. Conversely, the states with the lowest percentage were Montana, Wyoming, Arkansas and South and North Dakota.
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