Mortgage Late’s Decline in March

Many housing market analysts remain concerned about the impact that foreclosures will have on the housing in the next few months.  The pace of foreclosure remains high and that means a banks will be bringing REO to the market for months and probably years to come.  However, we received good news today that may be an indicator that the pace of foreclosure is slowing.  LPS applied analytics reported today that the number of homes in foreclosure has fallen by over 600,000 since the beginning of the year.  Furthermore, the number of mortgage that are delinquent decreased by over 8%.  This is a positive sign for the housing market and hopefully a trend that will continue.