I read an article that stated that in 2004, banks foreclosed on fewer
than 1.3% of all mortgage loans. I would like to know what that rate
was in 2005 and what that rate was in the first quarter of 2006. I
would need to know the source that the answer comes from as well.
Thank you!

<Mortgage forclosure rates.

1st quarter 2006
0.98 percent of loans were in the foreclosure process.
Source: Mortgage Bankers Association
http://www.mortgagebankers.org/NewsandMedia/PressCenter/42843.htm

4th quarter 2005
At the end of the fourth quarter of 2005 the percentage of loans in
the foreclosure process was 0.99 percent.
Source: Mortgage Bankers Association
http://www.mortgagebankers.org/NewsandMedia/PressCenter/40245.htm

This report looks at trends in foreclosures.
Chart 7 on page 21 shows a graph with foreclosure rates for ARM and
fixed mortgages.
Source: Mortgage Bankers Association
http://www.mortgagebankers.org/files/News/InternalResource/44130_Testimony.pdf

2nd Quarter 2006
272,109 properties entered some stage of foreclosure.
One foreclosure for every 425 U.S. households.
Source: RealtyTrac
http://www.realtytrac.com/ContentManagement/PressRelease.aspx?ItemID=780

1st quarter 2006
323,104 properties entered some stage of foreclosure.
One foreclosure for every 358 U.S. households.
Source: RealtyTrac
http://www.realtytrac.com/news/press/pressRelease.asp?PressReleaseID=99

2005
850,000 properties entering some stage of foreclosure across the
country over the course of the year. This represents less than 1
percent of all U.S. households.
Source: RealtyTrac
http://www.realtytrac.com/ContentManagement/PressRelease.aspx?ItemID=735

Mortgage delinquency and foreclosure rates 1999 to 2004.
Foreclosure rates
2004 ? 1.1%
2003 ? 1.3%
Source: Census Bureau.
http://64.233.183.104/search?q=cache:0bkKgk-ueqcJ:www.census.gov/compendia/statab/tables/06s1181.xls+2004+%221.3%25%22+%22mortgage+loans%22+foreclosed&hl=nl&ct=clnk&cd=1>


<Search strategy :>

<"census bureau" >
://www.google.com/search?sourceid=navclient&ie=UTF-8&rls=GGLG,GGLG:2006-26,GGLG:en&q=%22census+bureau%22++>

<"mortgage bankers association">
<://www.google.com/search?hl=nl&rls=GGLG%2CGGLG%3A2006-26%2CGGLG%3Aen&q=%22mortgage+bankers+association%22&lr=>

<"realtytrac">
<://www.google.com/search?hl=nl&rls=GGLG%2CGGLG%3A2006-26%2CGGLG%3Aen&q=%22realtytrac%22&lr=>


<Hope this helps.>

First of all, you need to be careful on what you define as
"Forclosure".  Is that the completion of the forclosure, houses that
go "into" the forclosure process etc etc.

From: http://abcnews.go.com/Business/story?id=1946250&page=1
"But that doesn't mean that all of those people are left homeless.
When people default on their mortgages and go to foreclosure, not all
those borrowers will lose their home. Some are able to sell their
homes before foreclosure. Others are able to work out a payment plan
with the lender. And in many states, filing for bankruptcy will stop
any foreclosures."


Doug Duncan, chief economist at the Mortgage Bankers Association,
reported in March that delinquencies now total 4.7 percent, up from
4.38 percent a year ago. For homeowners with ARMs, the rate is 5.72
percent, up nearly 1 percent from the previous year.

http://www.msnbc.msn.com/id/12975777
RealtyTrac, an industry organization that maintains a nationwide
database of foreclosures, says mortgage defaults between January and
March of this year numbered 323,102 compared with 188,122 during the
same period last year ? an increase of 72 percent.