Americans are still hoping for a housing recovery, but fewer of them are still paying their mortgages. In September of this year, national mortgage delinquency rates rose in the largest increase in four years, according to Lender Process Services (LPS). The rate increased 7.7 percent month-over-month in September, but is still 30 percent below peak levels in January 2010. While the national delinquency rate may not bode well for November and December, things still improved in terms of foreclosure starts and foreclosure sales. Those numbers fell month-over-month, but so did “delinquency cures” and loan prepayments.
Do you think this is a bad sign or just a seasonal blip?
by Carole Vansickle