Mortgage delinquencies rose for a second consecutive month in July, rising 2.4 percent to a total of 4.38 million properties, according to new figures from Lender Processing Services (LPS).
That figure represents 8.34 percent of all U.S. homes with mortgages, and follows an identical 2.4 percent increase in June. LPS defines mortgage delinquencies as loans at least 30 days past due but not in foreclosure. Serious mortgage delinquencies, those at least 90 days past due, were down by 0.4 percent for the month to 1.90 million. On an annual basis, LPS reports that total mortgage delinquencies were down by 10.4 percent from July 2010. Read the full post



