Congress passed the extension of the Mortgage Debt Relief Act of 2007

As a part of the Fiscal meeting yesterday, Congress passed the extension of the Mortgage Debt Relief Act of 2007 till end of 2013!

Mortgage delinquencies dip 10.6% in August

According to HousingWire.com, mortgage delinquency rates and foreclosure pre-sale inventory levels fell in August.  Is this another sign that market is recovering?  

Compared to the 31-day period to a year ago, the nation's mortgage delinquency rate had a 10.6% dip in August.  Last month, Lender Processing Services said mortgage delinquencies were down 30% from January 2010 from their firm's own loan-level databases.  

The States with the most non-current loans are Florida, Mississippi, New Jersey, Nevada, and New York.  The States with the lowest percentage of non-current loans are Montana, Alaska, South Dakota, Wyoming, and North Dakota.  

Source: HousingWire.com