Foreclosures, late mortgages declined across state in December

March 13, 2012

Banking & Finance, Real Estate

Foreclosure rates in Jackson and Mississippi as a whole have decreased for the month of December over the same period last year, new data from CoreLogic shows.

California real estate research firm CoreLogic data reveals that the rate of Jackson area foreclosures among outstanding mortgage loans was 2.41 percent for December 2011, a decrease of 0.22 percentage points compared to December of 2010 when the rate was 2.63 percent. Foreclosure activity in Jackson is lower than the national foreclosure rate which was 3.37 percent for December 2011.

Statewide, the foreclosure rate for December showed a decline of 0.22 percent, dropping from 2.41 percent in December of last year from 2.63 percent in December 2010.

Also in Jackson, the mortgage delinquency rate has decreased. According to CoreLogic data for December 2011, 7.58 percent of mortgage loans were 90 days or more delinquent compared to 7.83 percent for the same period last year. On a year-over-year basis, the mortgage delinquency rate has decreased 0.25 percent, CoreLogic data shows.

Statewide, the rate of mortgages tardy by 90 days or more declined to 7.58 percent in December of last year from 2.63 percent in December 2010, according to CoreLogic.

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