Foreclosure Rates Drop in Youngstown-Warren
YOUNGSTOWN, Ohio -- Foreclosure rates in Youngstown-Warren-Boardman decreased for the month of October over the same period last year to 3.23%, CoreLogic reported Monday. The rate was 4.42% in October 2012.
However, foreclosure activity in the region was higher than the national foreclosure rate, which was 2.15% for October, according to CoreLogic. A foreclosure is defined by the legal process by which an owner's right to a property is terminated, usually due to default.
Also in Youngstown-Warren-Boardman, the mortgage delinquency rate decreased; 7.15% of mortgage loans were 90 days or more delinquent compared to 8.26% for the same period last year. This measures the percentage of loans that are more than 90 days delinquent, including those in foreclosure and real estate owned.
Published by The Business Journal, Youngstown, Ohio.
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