Wednesday, July 11, 2012 / by Carlos J Higareda
Foreclosure Inventory Remains Near All-Time Highs
The U.S. foreclosure inventory — consisting of loans that have been referred to an attorney for foreclosure but have not yet completed the process through a sale — hit 4.1 percent of all active mortgages in May, holding near-record highs.
Lender Processing Services reported significantly higher numbers in judicial foreclosure states, at 6.5 percent of all loans, compared to non-judicial states, where the foreclosure inventory settled at 2.5 percent.
Also, according to LPS, more than half of loans in foreclosure in the judicial states have been delinquent for at least two years, compared to just over 30 percent in non-judicial states.
Source: “Foreclosure Inventory Remains Near All-Time Highs,” Inman News (07/09/12)