Statistics are always so much fun! You can create all sorts of assumptions from them:
Lender Processing Services came out with their mid-year statistics about the number of foreclosures and other comparisons. These statistics are the summary of from all the states. Here is what their statistics tell us:
1. Delinquent loans are down 30% from the peak times in January of 2010. So that tells me that people have managed to find a way to keep their home or maybe some modifications of loans have been successful.
2. First time foreclosures starts are at an all time low! Yeh! That does further confirm to me that things are getting better and there won't be as many people losing their homes.
3. About 50% of the foreclosures are on loans that the lender hasn't received a payment for 2 years! I wonder if they have statistics telling me if some of those loans were from mortgagors who were attempting to modify their loan or agents like me waiting to have the short sale approved!
4. Finally, foreclosures still outnumber sales 2:1. Well, at least it's not 4:1 like everyone was guessing in the beginning of this fiasco.
If you haven't seen the report, click here.
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