From Jon Prior at HousingWire: Mortgage Delinquencies Pass 10%: LPS
Home-loan delinquency rates in the US reached 10% in December, up from the record-high 9.97% in November, according to Lender Processing Services … which provides data on mortgage performance.
Accounting for foreclosures in the pipeline, the total non-current rate stands at 13.3% …. When extrapolated for the entire mortgage industry, 7.2m mortgage loans are behind on their payments.
File Under: More foreclosures and short sales coming!