Black Knight: R.I. one of top states for late mortgages in Nov.

RHODE ISLAND again was one of the top five states for mortgage payments delinquent by 90 days or more, according to Black Knight Financial Services. / COURTESY BLACK KNIGHT FINANCIAL SERVICES
RHODE ISLAND again was one of the top five states for mortgage payments delinquent by 90 days or more, according to Black Knight Financial Services. / COURTESY BLACK KNIGHT FINANCIAL SERVICES

PROVIDENCE – In November, Rhode Island again was among the top five states with mortgages late by 90 days or more.
Rhode Island had the fourth-highest serious delinquency rate for mortgages at 2.48 percent, trailing only Mississippi at 4.11 percent; Louisiana at 2.93 percent; and Alabama at 2.85 percent. Maine had the fifth-highest rate at 2.47 percent, according to Black Knight Financial Services, which released its mortgage data report on Wednesday.
Rhode Island’s rate dropped nearly 32 percent over the year, however. Still, it is far from the low reached in June 2005, when 0.28 percent of mortgages were late by 90 days or more. In February 2010, Rhode Island’s 90-day delinquency rate hit a high of 6.27 percent, Black Knight said.
Black Knight said the total U.S. loan delinquency rate – for loans that are 30 days or more past due but not in foreclosure – was 4.92 percent. That rate dropped 18.26 percent year over year.
Foreclosure inventory nationwide also fell over the year, as did foreclosure starts.
The number of properties in foreclosure pre-sale inventory totaled 698,000, a drop of 185,000 over the year. There were 66,000 U.S. foreclosure starts in November, a year-over-year drop of nearly 10 percent. Black Knight said the number of foreclosure starts reached a nine-year low in November, as fewer than 700,000 active foreclosures remain.
The number of properties 30 or more days past due, but not in foreclosure, totaled 2,491,000, a drop of 546,000.
The number of properties that are 30 or more days past due or in foreclosure, totaled 3,189,000, a drop of 732,000 over the year.

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