Foreclosure News in Florida

Here is some interesting information that I researched. Hopefully with the foreclosure fiasco.lenders will streamline the short sale process or maybe offer practical loan modifications to people who would like to stay in there homes. By offering loan mods and expedite short sales, I think it would help alleviate the title issue that lenders are having with the foreclosures.……There are 7,018,000 mortgages in the United States that are 30 or more days delinquent or in the process of foreclosure, according to new data from Lender Processing Services (LPS). This company is a Florida-based analytics and technology firm. The company has a loan-level database of nearly 40 million mortgage loans. The company stated “of the more than 7 million home loans in the currently going unpaid, 2,055,000 have already started foreclosure proceedings. LPS reports that 4,963,000 are in the pre-foreclosure default stages, with nearly half of these falling into the 90-plus-days delinquent bucket. LPS’ measurement of the U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure) rose to 9.27 percent as of the end of September. That’s a 0.6 percent increase over the previous month, but down 7.8 percent compared to last September. The company also stated that the states with the highest amount of delinquencies as a percent of all active loans include: Florida, Nevada, Mississippi, Georgia, and Louisiana. The lowest percentage of non-current loans can be found in: Montana, Wyoming, Arkansas, South Dakota, and North Dakota.