By Dees Stribling | MHN Online
According to the Black Knight (formerly LPS) First Look report for January, the U.S. mortgage delinquency rate (loans 30 or more days past due, but not actually in foreclosure) decreased to 6.27 percent in January from 6.47 percent in December, and declined by more than 10 percent year over year.
Also, the percent of loans in the foreclosure process dropped to 2.35 percent in January, compared with 2.48 percent in December, and were down 31 percent compared with a year ago. The percentage of loans in the foreclosure process is at the lowest level since late 2008, when foreclosures started going through the roof.
The number of delinquent properties, though not in foreclosure, is down 365,000 properties year over year in January, and the number of properties in the foreclosure process is down 528,000 properties since this time last year. All together as of January 2014, there are about 4.3 million residential properties either in delinquency or foreclosure, down from 5.2 million in January 2013.
