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Delinquencies down, foreclosures up

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The total number of non-current residential mortgage loans fell by 1.4 percent from June to July, to 7.04 million, with improvements in delinquency rates partially offset by an increase in foreclosures, according to mortgage-data aggregator Lender Processing Services.The latest report from LPS showed non-current loans -- representing homes whose owners have missed one or more mortgage payments or who are in foreclosure -- down 13.3 percent from January's high of 8.1 million.The number of homeowners behind on their loans by 30, 60, or 90 days or more fell 2.8 percent from June to July, to 5.02 million. But the total number of homes in foreclosure was up 2.1 percent, to 2.02 million -- the first month-over-month increase since February.LPS said foreclosure starts were up 24 percent from June to July, to the fourth highest level on record, as Fannie Mae and Freddie Mac continued to ramp up foreclosures on loans that were delinquent by more than six months.With loan servicers acceleratin...