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Loans NOT Yet in Foreclosure Will Impact Selling Prices in 2011.
The percentage of loans not yet in foreclosure that has not had a payment made in over six months.
27.2% of loans 6 months behind are still NOT in foreclosure
21.1% of loans 12 months behind are still NOT in foreclosure
19.2% of loans 18 months behind are still NOT in foreclosure
18.3% of loans 24 months behind are still NOT in foreclosure
Any loan that was in foreclosure in the prior month that moves into post-sale status or is flagged as a foreclosure liquidation.
Foreclosure sales plummeted 35% in Nov 2010. The monthly fall-off could be explained by the moratorium put into effect by some banks because of the robo-signing challenge.
The delinquency situation seems to be improving. However, the large number of foreclosure coming back to the market will impact listing prices in January 2011.