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Foreclosures dip statewide in September

Foreclosure rates in Jackson dropped more than a half percentage point in September compared to the same month last year.

Foreclosures and late home mortgage payments are down in Jackson and the rest of Mississippi.

Foreclosures and late home mortgage payments are down in Jackson and the rest of Mississippi.

Meanwhile, foreclosures statewide dropped by nearly two-thirds of a percentage point in September from September 2012, according to newly released data from CoreLogic, a California-based real estate research firm.

The CoreLogic data shows that the rate of Jackson area foreclosures among outstanding mortgage loans was 1.36 percent for September 2013, a decrease of 0.68 percentage points compared to September of 2012 when the rate was 2.04 percent. Foreclosure activity in Jackson was lower than the national foreclosure rate, which was 2.29 percent for September 2013.

Also in Jackson, the mortgage delinquency rate decreased. According to CoreLogic data for September 2013, 5.80 percent of mortgage loans were 90 days or more delinquent compared to 7.05 percent for the same period last year, representing a decrease of 1.25 percentage point.

Statewide, CoreLogic reports, foreclosures declined 0.73 percentage points in September from the previous September, going from 2.23 percent in the same month of 2012 to 1.50 percent .

Foreclosures nationwide dipped from 3.25 percent last September to 2.29 this September for an overall decline of 0.9 percent..

Mississippi mortgage payments tardy more than 90 days dropped a full percentage point from 7.16 percent to 6.16 percent.

Nationwide, payments late by 90 days or more dropped by 1.48 percentage points, from 6.69 percent in September 2012 to 5.21 percent in September.


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