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.