A particularly frightening statistic
comes from Lender Processing Services (LPS). According to LPS, in the United States, there are 7,043,000 mortgages that are at least 30 days past due or in the process of foreclosure. Of these, 2,090,000 have been referred to an attorney for foreclosure (and from the Rolling Stone article above, we know that this means another family will be homeless as soon as a judge rubber stamps the necessary paperwork), 4,953,000 are 30 days or more overdue but not yet in foreclosure and 2,238,000 of these are at least 90 days overdue. LPS estimates that the total mortgage delinquency rate stands at 9.29 percent of all outstanding mortgage loans. The states most affected (total foreclosures and delinquencies as a percentage of all loans) are Florida, Nevada, Mississippi, Georgia, Louisiana and New Jersey with the lowest percentage being found in Montana, Wyoming, Arkansas, South Dakota and North Dakota.