Source: Thinkstock
The total number of loans that are 30 days or more past due but not in foreclosure is 2.389 million, or 4.1% of loans outstanding. Of that number, 886,000 are at least 90 days past due but not yet in foreclosure. The total number of properties that are in foreclosure is 711,000, down 28,000 compared with June and down 224,000 compared with July 2014. The total number of properties that are 30 days or more past due or in foreclosure is now 3.1 million, down 83,000 compared with June and down 685,000 compared with July 2015.
The data were published Friday by Black Knight Financial Services in its monthly “First Look” report. Final totals for July will be available in the company’s “Mortgage Monitor” report for July, which is expected to be published by September 8. Non-current totals combine foreclosures and delinquencies as a percentage of active loans. Black Knight derives its statistics from its own loan-level database, representing about two-thirds of the overall market.
The five states with the highest percentage of non-current mortgage debt are Mississippi (12.75%), New Jersey (10.16%), Louisiana (9.90%), Maine (8.95%) and New York (8.92%).
The five states with the lowest percentage of non-current debt are North Dakota (2.12%), Colorado (2.96%), Minnesota (3.22%), Montana (3.29%) and South Dakota (3.35%).
ALSO READ: The 10 Most Polluted Cities in America
The five states making the largest six-month improvements in non-current percentages are Florida (down 21.62% to 7.69% non-current debt), New Hampshire (down 19.24% to 5.32%), Illinois (down 17.32% to 6.22%), Vermont (down 16.81% to 5.86%) and California (down 16.38% to 3.52%).
The five states that posted the largest deterioration in non-current debt percentages are Mississippi (down 10.17% to 12.75%), Oklahoma (down 9.87% to 7.2%), Alaska (down 8.48% to 3.40%), South Dakota (down 7.45% to 3.35%) and Wyoming (down 5.27% to 4.02%).
Sponsored: Want to Retire Early? Here’s a Great First Step
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.