A report released yesterday by Lender Processing Services (LPS) shows a -0.1% drop in the total U.S. loan delinquency rate to 7.96%, while the total U.S. foreclosure presale inventory rate fell by -0.7% to 4.11% in May.
The total number of properties in foreclosure pre-sale inventory was 2.164 million, while 4.187 million properties are 30 or more days past due but not in foreclosure, for a combined 6.35 million properties. The number of properties that are 90 or more days delinquent but not in foreclosure was 1.921 million.
The states with the highest percentage of non-current loans — which, according to the report, is defined as the total combined foreclosures and delinquencies as a percent of active loans in a state — are Florida, Nevada, Mississippi, New Jersey, and Illinois.
Conversely, the states with the lowest percentage of non-current loans are Montana, Wyoming, Alaska, South Dakota, and North Dakota.