Foreclosures down in Jackson for October, up statewide

January 5, 2012

Banking & Finance, Real Estate

Foreclosure rates in Jackson decreased in October from the same period last year, according to new data from CoreLogic.

Statewide, however, foreclosures rates rose from 2.38 percent in October 2010 to 2.57 percent in October last year,California real estate research firm CoreLogic reported.

CoreLogic said the rate of Jackson area foreclosures among outstanding mortgage loans was 2.29 percent for the month of October 2011, a decrease of 0.05 percentage points compared to October of 2010 when the rate was 2.34 percent.

Foreclosure activity in Jackson is lower than the national foreclosure rate which was 3.51 percent for October, representing a 1.22 percentage point difference.

Also in Jackson, the mortgage delinquency rate has decreased. CoreLogic said data for October showed 7.25 percent of mortgage loans were 90 days or more delinquent compared to 7.91 percent for the same period last year, representing a decrease of 0.66 percentage points

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