Foreclosoures Drop in Valley, Deliquencies Rise
IRVINE, Calif. -- Foreclosure rates in Youngstown-Warren-Boardman area were lower in August than the same month last year, according to newly released data from CoreLogic. Local foreclosures among outstanding mortgage loans was 4.61%, a decrease of 0.08% compared to August of 2011.
Foreclosure activity in Youngstown-Warren-Boardman remains higher than the national rate, which was 3.35% in August.
Meanwhile, the mortgage delinquency rate for the area increased. August data show that 8.28% of mortgage loans were 90 days or more past due compared to 8.18% for August 2011.
For the state of Ohio, the 90-plus day delinquency rate was 6.67%, up slightly from 6.66% in August 2011. The foreclosure rate of 3.39% statewide is down from 3.46% a year ago.
Nationwide, the 90-plus day delinquency rate for August is 6.76%. The foreclosure rate is 3.46%.
The delinquency rate measures the percentage of loans more than 90 days on which the borrower has paid neither interest nor principal. This encompasses both those properties on which foreclosure proceedings have been initiated and those lenders have repossesed.
CoreLogic is a provider of consumer, financial and property information, analytics and services to business and government.
Published by The Business Journal, Youngstown, Ohio.