Lender Processing Services recently released its December Mortgage Monitor report, which revealed mortgage originations continued their decline from the peak reached in September.

The number of mortgage originations for December was down 10.1 percent from November, and loans that started over the past two years have become some of the highest-quality originations on record.
"Looking at judicial vs. non-judicial foreclosure states, LPS found that half of all loans in foreclosure in judicial states have not made a payment in more than two years," LPS states. "Foreclosure sale rates in non-judicial states stood at approximately four times that of judicial foreclosure states in December."

When it comes to foreclosures, many U.S. homeowners are facing the daunting prospect of facing one as the result of falling behind on their mortgage payments, but the federal government is making strides in providing more options for struggling homeowners. A recent Gallup poll found 58 percent of respondents saying they want the government to take further action in preventing foreclosures.

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