Less Home Owners Falling Behind on Payments

U.S. mortgage delinquency rate continues to fall, which is a positive sign for the housing recovery. The delinquency rate fell 2.11 percent in May and is now 12 percent below the levels from one year ago, according to mortgage performance data from Lender Processing Services.

There are about 3 million properties that are 30 or more days past due on their mortgage payments but not yet in foreclosure, representing a delinquency rate of 6.08 percent. However, according to LPS, there are about 1.5 million homes in some stage of foreclosure.

The states with the highest percentage of delinquent loans are:

• Florida
• New Jersey
• Mississippi 
• Nevada
• New York 

Source: “Loan Delinquency Continues to Improve, Falling 2.11% Last Month,” Mortgage News Daily (June 25, 2013)