by Calculated Risk on 9/03/2013 08:11:00 AM

LPS released their Mortgage Monitor report for July today. According to LPS, 6.41% of mortgages were delinquent in July, down from 6.68% in June. LPS reports that 2.82% of mortgages were in the foreclosure process, down from 4.08% in July 2012.

This gives a total of 9.23% delinquent or in foreclosure. It breaks down as:

• 1,846,000 properties that are 30 or more days, and less than 90 days past due, but not in foreclosure.
• 1,347,000 properties that are 90 or more days delinquent, but not in foreclosure.
• 1,406,000 loans in foreclosure process.

For a total of ​​4,599,000 loans delinquent or in foreclosure in July. This is down from 5,562,000 in July 2012.

Click on graph for larger image.

This graph from LPS shows percent of loans delinquent and in the foreclosure process over time.

From LPS:

The strong downward trend in delinquencies and foreclosures continues ... Foreclosure starts year to date were the lowest since 2007; almost 50% are repeats ... Delinquency and foreclosure improvement extends across virtually all products

Delinquencies and foreclosures are still high, but moving down - and might be back to normal levels in a couple of years.

There is much more in the mortgage monitor.