Are There REALLY Less Past Due Mortgages?

By
Real Estate Agent with RE/MAX Gold DRE# 01437147

According to Lender Processing Services (LPS), there were 6,298,000 mortgagesgoing unpaid  in the United States as of the end of October.

Although that sounds like an incredibly HIGH number of delinquent mortgages, that total is actually less than the previous months.

At the beginning of this year, there were 6,870,000 delinquent mortgages.  Compare that to the beginning of 2010 that showed 8,118,000 and you can clearly see how there’s been a major decline in the total numbers of past due mortgages.

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Does all this mean that we’re nearing the end of the housing problems?  I wouldn’t go so far as to say that, but I feel it’s definitely showing that we’re heading in the right direction.  And although it may confirm that we’re heading the right direction, it’s kind of like we’re on a cross-country journey and we still have a long road ahead of us.  Hopefully the trek will be less cluttered with road blocks the further we get.


Comments (4)

Brett Reichel
Homebridge Financial Services - Rancho Cucamonga, CA
MLO 210215

Recovery will be a long process - but we must persevere!  Thanks for the post.

Brett

Nov 25, 2011 02:53 AM
Randy Elliott
RE/MAX Gold - Lodi, CA
REALTOR : Lodi / Stockton, CA

I totally agree Brett! The strong shall inherit the earth. Thank you for your comment.

Nov 25, 2011 03:00 AM
Steve Davis
Davis Coastal Properties - Carlsbad, CA
Carlsbad CA

How is that stat holding up today - almost 3 months into 2012?

Mar 16, 2012 10:59 PM
Randy Elliott
RE/MAX Gold - Lodi, CA
REALTOR : Lodi / Stockton, CA

Uh, not so good.  More past due's, but banks still not acting on them like you'd think they would.  As an agent I'd like to see more homes on the market because there's a shortage here locally.  BUT, I sympathize with some of the homeowners (some) and don't wish them to lose their homes.

Mar 17, 2012 01:29 PM

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