Foreclosure inventory rises in September

LPS: Average 484 days in delinquency for loans in foreclosure

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The number of homes nationwide in the foreclosure process rose in September, according to the latest statistics collected from loan servicers by Lender Processing Services.

Foreclosure inventory stood at 3.84 percent of all loans in September, up 3.6 percent from September 2009 and 1.1 percent from August, according to LPS’ monthly Mortgage Monitor report. Nearly 275,500 homes that hadn’t been in the foreclosure process in August started foreclosure in September, down 0.6 percent year-over-year and 2.5 percent month-to-month.