Your ACTIVE REAL ESTATE FORECLOSURES FOR SALE Daily List has been posted. These are Single Family Homes ‘Active’ on the Birmingham MLS.
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ACTIVE REAL ESTATE FORECLOSURES FOR SALE Are on the rise and will not last long.
Foreclosure starts dipped
below the 200,000 mark during April for the first time in years, but the
foreclosure pipeline remained bloated by more than 4 million homes whose owners
are in foreclosure or delinquent by 90 days or more.
That’s according to the latest
numbers from loan data aggregator Lender Processing Services, which show
foreclosure starts fell nearly 31 percent from March to April, totaling 187,423
— a 14.7 percent decline from a year ago.
LPS estimated that 2.18
million mortgages were in foreclosure, down nearly 2 percent from a record 2.22
million in March but up 9.5 percent from a year ago.
Another 1.96 million
mortgages were delinquent by 90 days or more in April, down about 1.5 percent
from the previous month and 29 percent from a year ago.
All told, LPS tallied 4.14
million loans in foreclosure or delinquent by 90 days or more at the end of
Those numbers are in line
with the Mortgage Bankers Association’s most recent National Delinquency
Survey, which suggested about 4 million residential mortgages were in
foreclosure (2.24 million) or delinquent by more than 90 days (1.78 million) at
the end of the first quarter.
LPS data showed a 7.5
percent month-over-month bump in the number of homeowners behind on their
mortgages by just one payment, to 1.63 million, to roughly the same level seen
a year ago.
While LPS estimates 60-day
delinquencies grew by 1.2 percent from March, to 615,608, that’s down 14
percent from a year ago.
The total number of
noncurrent loans stood at 6.39 million loans, up less than 1 percent from March
and down nearly 11 percent from a year ago.
LPS estimates that the
number of noncurrent loans has fallen 21.2 percent from a peak of 8.12 million
in January 2010, when the number of homes in foreclosure or delinquent by 90
days or more totaled 5.17 million.