According to a monthly report released by mortgage data company Lender Processing Services, distressed property inventory reached an an all-time high in the month of March - 2.2 million in all - and the number of homes just starting to go into foreclosure jumped 33 percent compared to the end of February.
On the positive side, however, the report found that the rate of mortgage delinquency in the month of March dropped 20 percent year-over-year and nearly 12 percent month-over-month, the lowest monthly delinquency rate observed since 2008.
The company's report also detailed which states had the highest percentage of non-current loans. The top five states were Florida, Nevada, Mississippi, New Jersey and Georgia. Wyoming, Alaska, San Diego, North Dakota and Montana had the lowest percentage of non-current loans.
While mortgages don't appear to be a problem in Montana, the Billings Gazette reports people moving into new homes may be. Patrick Barkey, director of the University of Montana Bureau of Business and Economic Research, told the paper this may be because many construction companies are leaving the state to take jobs in North Dakota.
More News