R.I. among top five states for late mortgages in May

RHODE ISLAND in May again was among the top five states with mortgages that are 90 days or more past due, according to Black Knight Financial Services. / COURTESY BLACK KNIGHT FINANCIAL SERVICES
RHODE ISLAND in May again was among the top five states with mortgages that are 90 days or more past due, according to Black Knight Financial Services. / COURTESY BLACK KNIGHT FINANCIAL SERVICES

PROVIDENCE – Rhode Island again was among the top five states for late mortgages in May, according to Black Knight Financial Services.
Rhode Island had the second highest percentage of mortgages that were delinquent by 90 days or more at 3.4 percent. Only Mississippi had a higher percentage at 4.5 percent.
Louisiana had 3.1 percent of mortgages that were delinquent by 90 days or more, while Alabama had 3 percent and Arkansas, 2.8 percent.
Rhode Island has consistently been among the top five states for delinquent mortgages since last summer.
Nationally, Black Knight said that the total U.S. loan delinquency rate – loans that are 30 or more days past due, but not in foreclosure – was 4.96 percent, a 12 percent drop year over year.
Total U.S. foreclosure starts numbered 81,900 in May, a decrease of 5 percent from May 2014.
Foreclosure properties that were 30 or more days past due, but not in foreclosure numbered 2,513,000, a decrease of 326,000 year over year. The number of properties that were 90 or more days past due, but not in foreclosure, numbered 922,000, a drop of 247,000 year over year. The number of properties that were 30 or more days past due or in foreclosure – 3,268,000, a drop of 537,000 year over year.
Florida led the nation with a 22 percent six-month reduction in non-current inventory – a combination of foreclosures and delinquencies as a percent of active loans in the state.

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