I have been meaning to get to this since last week — the numbers are pretty fantastic.
From LPS’ First Look/Mortgage Monitor:
• Total U.S. loan delinquency rate: 8.8%
• Total U.S. foreclosure inventory rate: 4.15%
• Total U.S. non-current inventory: 6,856,000
• States with most non-current loans: Florida, Nevada, Mississippi, New Jersey, Georgia
• States with fewest non-current loans: Montana, Wyoming, Alaska, South Dakota, North Dakota
The LPS report also noted that “February’s data also showed a 23 percent increase in Option ARM foreclosures over the last six months, far more than any other product type. In terms of absolute numbers, Option ARM foreclosures stand at 18.8 percent, a higher level than Subprime foreclosures ever reached.”
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.