Black Knight: R.I. among top five states with most late mortgages in October

RHODE ISLAND was among the top five states with the most mortgage payments late by 90 days or more in October, according to Black Knight Financial Services. / COURTESY BLACK KNIGHT FINANCIAL SERVICES
RHODE ISLAND was among the top five states with the most mortgage payments late by 90 days or more in October, according to Black Knight Financial Services. / COURTESY BLACK KNIGHT FINANCIAL SERVICES

PROVIDENCE – The Ocean State was among the top five states with the most mortgage payments late by 90 days or more in October.
A total of 2.6 percent of mortgages were delinquent by 90 days or more last month in Rhode Island, the fourth-highest rate in the nation, and behind only Mississippi, which had the highest rate at 4.1 percent; Louisiana, 2.9 percent; and Alabama, 2.8 percent. Maine had the fifth-highest rate at 2.5 percent, according to Black Knight Financial Services.
Nationwide, mortgage delinquency rates, as well as the number of properties in foreclosure, fell in October, according to Black Knight.
Black Knight said that nationwide, the total loan delinquency rate, loans that are 30 days or more past due, but not in foreclosure, was 4.8 percent, representing a year-over-year drop of 11.9 percent.
The total U.S. foreclosure pre-sale inventory rate was 1.4 percent. That also fell from October 2014 by 21.2 percent, Black Knight said. The monthly mortgage pre-payment rate rose 9.9 percent year over year, to 1.1 percent, however.
The number of properties that are 90 days or more past due on their mortgages, but not in foreclosure, numbered 820,000 nationwide, a drop of 249,000 from October 2014.
A total of 3,136,000 properties were 30 days or more past due on their mortgage and in foreclosure in October, representing a year-over-year decrease of 507,000, Black Knight said.

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