The article below, by Carrie Bay, DS News tells us, if we read between the lines, that there are HUGE opportunities available. Not only in REO listings, but also with modifications and short sales. Don't miss out.One in every 7.5 homeowners with a mortgage in the United States is either behind on their payments or in foreclosure, according to new data released by Lender Processing Services (LPS) Monday. That equates to a record high 13.2 percent of the nation’s home loans.LPS’ December Mortgage Monitor report, which analyzes 40 million residential mortgages across the spectrum of credit products, paints a dismal picture of loan performance. Total delinquencies, excluding foreclosures, increased to a record high 9.97 percent as of November 30, 2009. That represents a month-over-month increase of 5.46 percent and a year-over-year increase of 21.29 percent.Loans rolling to a more delinquent status totaled 5.01 percent, compared to just 1.52 percent of loans that improved. Of loans that were current in December 2008, 4.37 percent were either 60 or more days delinquent or in foreclosure by the end of November 2009, a rate higher than any other year for the same period, LPS said.Foreclosure inventories also continued to climb to new highs, with November’s foreclosure rate at 3.19 percent – a month-over-month increase of 1.46 percent and a year-over-year increase of a staggering 81.41 percent.Compared to 2005 levels, LPS says foreclosure inventories across all loans are now nearly seven times higher. High-end jumbo loan foreclosure inventories are nearly 100 times more than levels four years ago.LPS reported that foreclosure starts continue to decline as a result of loss mitigation efforts like the federal government’s Home Affordable Modification Program (HAMP), but as more and more homeowners extend their time at the brink awaiting evaluations or running the course of the trial phase, servicers’ delinquent loan volumes have become elevated.The company says the reduction in foreclosure starts is not necessarily a positive side effect. Combined with the steady increase in the number of seriously delinquent loans, it means there is an ever-growing “shadow” inventory of troubled properties that will eventually hit the market, LPS explained.Topping LPS’ list of states with the most non-current loans is Florida. Also finding their way to the top 10 are Nevada, Mississippi, Arizona, Georgia, California, Michigan, Indiana, Ohio, and Illinois.States with a coveted spot on the list of those with the fewest non-current loans include North Dakota, South Dakota, Alaska, Wyoming, Montana, Nebraska, Vermont, Colorado, Oregon, and Iowa.