Posted To: MND NewsWire

While serious delinquencies remain a concern, homeowners are recovering quickly from pandemic induced mortgage delinquencies. Black Knight’s “first look” at November loan performance found a further decline in the nation’s delinquency rate to 3.59 percent. This is a 4.11 percent improvement from October and down 43.29 percent from the rate in November 2020. At the end of November there were 1.91 million homeowners who were 30 days or more past due on their mortgage loans but not in foreclosure, an improvement of 80,000 since the end of October. One year earlier 3.38 million loans were past due. The number of serious delinquencies, loans more than 90 days past due but not in foreclosure, also dropped by 80,000 in a month. While 1.03 million loans remain in serious delinquency, this is 1.17 million…(read more)

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Source: Mortgage News Daily