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Foreclosures Fall Slightly in April

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By Steve Cook

RISMedia, May 21, 2011—The inventory of homes in foreclosure awaiting resale fell slightly in April, but they are still 12.7 percent higher than they were a year ago, according to Lender Processing Services April 2011 month-end mortgage performance statistics.

Some 2,184,000 homes are in the presale foreclosure inventory. The total presale foreclosure inventory rate is 4.14 percent of all mortgages.

However, month-over-month mortgage delinquencies of 30-days or more rose 2.4 percent during the month. They are still 16.3 percent lower than last year at this time.

Some 4.2 million properties are more than 30 days delinquent but not in foreclosure. Of those, 1.9 million are 90 days or more delinquent. Some 6,388,000 homes are either 30 or more days delinquent or in foreclosure.

States with highest percentage of non-current loans are Florida, Nevada, Mississippi, New Jersey and Georgia. States with the lowest percentage of non-current loans are Montana, Wyoming, Alaska, South Dakota and North Dakota.

For more information visit www.realestateeconomywatch.com.

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