The average loan in foreclosure has been delinquent for 631 days. That’s nearly 21 months

http://moneyland.time.com/2011/12/02/foreclosure-timeline-lengthens-to-record-21-months/



Florida, for example, has gotten slammed in the foreclosure crisis. LPS shows that a whopping 22.8% of loans there — nearly one out of four — are not being kept current. Of those, 8.4% are delinquent and 14.4% are actually in foreclosure.

REO prices for the big Florida metro areas reflect the problem: In Tampa, for instance, prices were down in October by 6.7% from the year before, while in Miami, they were down 4.0% from the previous year. http://www.housingwire.com/2011/12/01/average-time-to-foreclose-sets-new-record-of-631-days

FHA has 7.3 million loans outstanding, a delinquency rate of 17 percent means over 1.2 million loans are delinquent. What's worse is FHA insures 100 percent of the losses on loans it insures, and as a result its loss severities are extremely high. http://www.cbsnews.com/8301-505123_162-57335131/fhas-financial-condition-worsened-in-october/

The national median average price has dropped less but still substantially, from $248,000 in 2006 to $176,000 in this year’s third quarter. Another factor is continued low interest rates. Rates for a 30-year conforming loan (that is, a loan with a balance of $417,500 or less) were 4.23% last week, according to data released today by the Mortgage Bankers Association. http://moneyland.time.com/2011/11/28/home-affordability-near-highest-level-in-20-years/?iid=pf-article-editpicks