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Foreclosures, late mortgages drop in Jackson, rest of state

Foreclosures and delinquent mortgages decreased for the month of August over the same period last year in Jackson and the rest of Mississippi, data from CoreLogic shows.

The CoreLogic data reveals that the rate of Jackson area foreclosures among outstanding mortgage loans was 0.94 percent for August 2015, a decrease of 0.10 percentage points compared with August 2014 when the rate was 1.04 percent. Foreclosure activity in Jackson was lower than the national foreclosure rate, which was 1.25 percent for August 2015.

Statewide, the foreclosure rate for August dropped to 0.96 percent from August of 2014. Mortgages tardy by 90 or more days also dropped, with the 5.03 percent statewide rate represented a 0.62 percent drop from the same month  a year ago.

Mortgage delinquencies in Jackson dropped 0.61 percent from last August, coming in at 5.03 percent.

The delinquency rate measures the percentage of loans that are more than 90 days late, including those in foreclosure and  real estate owned, or REO, says CoreLogic a global real estate analytics and data provider

 

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