My Real Estate Blog

The percentage of loans on which foreclosure actions were started during the third quarter was 1.34 percent, up 23 basis points from last quarter, but down eight basis points from one year ago. The percentage of loans in the foreclosure process at the end of the third quarter was 4.39 percent, down 18 basis points from the second quarter of 2010 and down eight basis points from one year ago. The seriously delinquent rate, the percentage of loans that are 90 days or more past due or in the process of foreclosure, was 8.70 percent, a decrease of 41 basis points from last quarter, and a decrease of 15 basis points from the third quarter of last year.

Foreclosure starts year-over-year increased in 33 states, with the largest increases coming in Washington, Indiana, and South Carolina.  The largest decreases were in Nevada, California, and Florida.

Reprinted From C.A.R.