R.I. second among states for late mortgages in June

RHODE ISLAND was among the top five states in June with mortgages that were late by 90 days or more, according to Black Knight Financial Services. The bottom five states by non-current percentage also are listed. North Dakota had the fewest foreclosures and delinquencies as a percent of active loans at 2.2 percent. / COURTESY BLACK KNIGHT FINANCIAL SERVICES
RHODE ISLAND was among the top five states in June with mortgages that were late by 90 days or more, according to Black Knight Financial Services. The bottom five states by non-current percentage also are listed. North Dakota had the fewest foreclosures and delinquencies as a percent of active loans at 2.2 percent. / COURTESY BLACK KNIGHT FINANCIAL SERVICES

PROVIDENCE – Rhode Island again had the second-highest number of significantly late mortgages in June, according to data released Thursday by Black Knight Financial Services.
Rhode Island’s percentage of mortgages that are more than 90 days past due was 3.2 percent, behind only Mississippi, which had a 4.4 percent rate. Louisiana, Alabama and Arkansas rounded out the rest of the top five with rates of 3.1 percent, 3 percent and 2.7 percent, respectively.
The number of U.S. properties whose mortgages are 90 days or more late, but not in foreclosure, totaled 895,000, a drop of 260,000.

Black Knight reported that in June, the total U.S. loan delinquency rate – loans that are 30 or more days past due, but not in foreclosure – was 4.8 percent, a year-over-year drop of 15.3 percent.
The number of properties with mortgages that are 30 days or more past due or are in foreclosure totaled 3.2 million, a drop of 651,000 year over year.
Black Knight also said that foreclosure inventory is at its lowest level nationally since 2007.
The total U.S. foreclosure pre-sale inventory rate was 1.5 percent, which fell 23 percent year over year.

Mississippi, New Jersey, Louisiana, Maine and New York were the top five states by non-current percentage, a combination of foreclosures and delinquencies as a percent of active loans in that state, at 12.7 percent, 10.6 percent, 9.9 percent, 9.2 percent and 9.1 percent, respectively.

The bottom five states by non-current percentage were North Dakota, Colorado, Minnesota, South Dakota and Montana at 2.2 percent, 3.1 percent, 3.3 percent, 3.41 percent and 3.43 percent, respectively.

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