California is number 13 out of 20 States on the Chart of Non-Current loans as per LSP (“Lender Processing Services”)
The 282,528 foreclosure starts initiated by lenders in August represented a 29 percent increase from the low for the year, seen in April, and was the highest level since July 2009.
LPS estimates that 13.02 percent of all outstanding loans — were past due in August, down from the same time a year ago.
The five states with the highest percentage of non-current loans were Florida (23.5 percent), Nevada (21.3 percent), Mississippi (18.6 percent), Georgia (15.6 percent) and Illinois (14.4 percent). California with 13.3 percent is number 13 on the chart.
The same states showing a high rate of foreclosure are also the ones showing the highest rates of new, seriously delinquent loans,
California used to be number 3 and 4 at the peak of this recession. Now is that good news? I keep on saying that Palm Springs California is doing even better than that