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Loan Modification

: Mortgage Lender Implode-o-Meter

LPS' Report Finds Repeat Foreclosures Makeup 35 Percent of Foreclosure Starts

By Implode-Explode Heavy Industries

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"The January Mortgage Monitor Report released by Lender Processing Services Inc. (LPS) shows that while foreclosure starts decreased in the first month of 2011, they still outnumber foreclosure sales by almost three to one. At the same time, repeat foreclosures?loans that had cured in one way or another, but have fallen back into foreclosure - now account for more than 35 percent of foreclosure starts. As of the end of January, foreclosure inventories stood at nearly eight times historical averages (and 25 times January 2011's level of foreclosure sales), with delinquencies more than double historical norms."

Full post as published by Mortgage Lender Implode-o-Meter on March 04, 2011 (boomark / email).

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