More than 7m Distressed Loans Weigh on Early Signs of Housing Stabilization

Image via CrunchBase

by DIANA GOLOBAY

Early signs of stabilization in delinquent and foreclosure inventories were overshadowed by an elevated pool of more than 7m distressed loans by the end of April, according to the latest mortgage report by Lender Processing Services (LPS: 33.61 -0.56%).

The year-over-year growths in delinquent and foreclosure volumes have leveled off in recent months, with the number of loans 90 or more days past due — including pre-sale foreclosure — declining by nearly 3% to just over 4.07m from nearly 4.19m in March, according to the report (download here).

More than 7m Distressed Loans Weigh on Early Signs of Housing Stabilization

Related articles by Zemanta

• NYT: Some homeowners stop paying mortgages (msnbc.msn.com)