Delinquencies and Foreclosures on the Rise in May
Black Knight Financial Services released its “First Look” data for May on Wednesday and revealed that there was an overall increase in foreclosure activity last month.
According to Mortgage News Daily, which analyzed the data after it was published, the delinquency rate rose 3.95 percent from April to May – sitting now at 4.96 percent – with 81,900 loans starting the foreclosure process.
Mississippi, New Jersey, Louisiana, New York and Maine currently have the largest numbers of non-current loans, while Florida has seen the biggest improvement with a 22.15 percent drop in non-current loans over the last six months.
Image via flickr/Simon Cunningham