Distressed mortgages: no change in trend

7 Feb 2012 by Jim Fickett.

Last week LPS Applied Analytics released the Mortgage Monitor for December. They have stopped reporting the main statistics I was following – the number of foreclosure sales, and the number of mortgages 90+ days delinquent or in foreclosure – so it is harder to get a longer-term perspective from their data than it was. But they do have, for just the past year, the percent of all mortgages that are 90+ days delinquent or in foreclosure. This has been at 7.7% since last June. The trend remains the same: the process of clearing out the bad mortgages is proceeding very slowly indeed.

It turns out RealtyTrac has also stopped reporting the number of foreclosure sales, so I will stop attempting to cover these data monthly, and will depend on the quarterly reports from the government.