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Jackson sees dip in foreclosures, tardy mortgage payments

Foreclosure rates and mortgage delinquencies in Jackson have decreased for the month of November over the same period last year, newly released data from real estate research firm CoreLogic shows.

CoreLogic reported the rate of Jackson area foreclosures among outstanding mortgage loans was 2.37 percent for November, compared to November of 2010 when the rate was 2.53 percent. On a year-over-year basis, the foreclosure rate in Jackson decreased 9.47 percent. Foreclosure activity in Jackson is lower than the national foreclosure rate which stood at 3.41 percent for November.

Also in Jackson, the mortgage delinquency rate has decreased. According to CoreLogic data for November, 7.49 percent of mortgage loans were 90 days or more delinquent compared to 7.95 percent for the same period last year. On a year-over-year basis, the mortgage delinquency rate has decreased 9.02 percent.

One comment

  1. That is excellent news, although I wonder if it has to do with the process of getting foreclosure onto the market taking longer, thanks to robo-signing and the like. Seems as though it is going to take forever to get all of these foreclosures off the market.

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