Foreclosures Drop in Youngstown, Warren, Boardman Area
IRVINE, Calif. -- Foreclosure rates in Youngstown-Warren-Boardman were lower in February compared to February 2013, CoreLogic reported Tuesday.
The rate among outstanding mortgage loans was 2.92%, a decrease of 1.38% compared to February 2013.
Foreclosure activity in Youngstown-Warren-Boardman was higher than the national foreclosure rate, which was 1.93% for February, according to the most recent data from CoreLogic.
Also in Youngstown-Warren-Boardman, the mortgage delinquency rate decreased; 6.92% of mortgage loans were 90 days or more past due compared to 7.99% for the same period last year.
The 90-plua days delinquency rate measures the percentage of loans more than 90 days past due, including those in foreclosure and repossessed real estate. The foreclosure rate measures the percentage of loans in some stage of foreclosure. A foreclosure is defined by the legal process by which an owner's right to a property is terminated, usually the result of the borrower defaulting.
Published by The Business Journal, Youngstown, Ohio.
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