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February 21, 2020

Maine ranks No. 4 for improving level of current mortgages

The portion of mortgages in Maine that were delinquent or in foreclosure fell by over 14% from last August through January, the fourth-largest decrease in the country.

Data released Thursday by Black Knight Inc., a Florida provider of mortgage data and analytics, show that 4.64% of mortgages in the state were “non-current” as of Jan. 20. That level represented a 14.64% decline over the six-month period, which ranked Maine behind only Montana, Idaho and Washington in reducing the level of current home loans that were not current.

Minnesota, where non-current mortgages increased by 2.69%, ranked worst in the country.

Mississippi had the highest level of mortgages in delinquency or foreclosure, 9.84%. The lowest level, 1.9%, was in California.

Nationwide, 3.22% of U.S. mortgages, or over 2.2 million loans, were delinquent — about a 5% decline from December. Less than .5% of mortgages were in foreclosure, according to the January data from Black Knight.

Delinquency was defined as mortgages that are least 30 days past due but not in foreclosure.

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