The number of loans in foreclosure dropped almost 31 percent year over year in July, to 2.82 percent of overall mortgage loans. That’s the lowest foreclosure inventory rate since February 2009, according to Lender Processing Services.

The number of loans 30 days or more past due but not in foreclosure fell nearly 9 percent on an annual basis in July, to a 6.41 percent delinquency rate.

Source: LPS

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