The mortgage delinquency rate in March fell 8.8% on a year-over-year basis and was down 6.3% from the previous month, according to new data from Lender Processing Services (LPS), based in Jacksonville, Fla.
In March, LPS determined that there were more than 3.5 million U.S. properties that were 30 days or more past due but not in foreclosure and more than 1.6 million properties 90 days or more delinquent but not in foreclosure. LPS estimates there are 2 million properties in the national foreclosure presale inventory.
The states with the highest percentage of noncurrent loans are Florida, Mississippi, Nevada, New Jersey and Illinois. The states with the lowest percentage of noncurrent loans are Montana, Alaska, South Dakota, Wyoming and North Dakota.