The number of distressed homes for sale in Maricopa Arizona may be on the rise over the next 3 – 6 months. According to a first look report from Lender Processing Services, the number of delinquent mortgages in November rose to 8.15% from 7.93% the prior month.

That delinquency rate as a percentage of the LPS database of 40 million mortgages declined nearly 10% from a year earlier. About 4.14 million homes were 30 or more days past due in November, with about 1.81 million properties more than 90 days past due. LPS considers a mortgage delinquent when it’s at least 30 days in arrears but not in foreclosure. The company recorded 6.26 million homes either delinquent or in foreclosure last month. Foreclosure presale inventory dropped 3% from October, but increased 2% from November 2010.

States with the highest percentage of noncurrent loans include Florida, Mississippi, Nevada, New Jersey and Illinois, according to the LPS report. Montana, South Dakota, Wyoming, Alaska and North Dakota had the lowest

There has been a lot of conflicting articles about the number of delinquent mortgages. In fact, I read one the other day that said this number was declining for the 6th month in a row. I can only say that I receive a 30,60, 90 days delinquent report every month and, up to this point, I have not seen any signs of a slow down. In fact, I expect delinquencies to increase as many homeowners who have been “on the fence” may have to choose between paying their mortgage this month or buying Christmas precents for their loved ones. In addition, many homeowners I have talked to are timing their delinquency, and subsequent short sale, to start after the Holiday season is over so they do not have to show their homes during the Holiday season.

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