Banking & Finance

Foreclosures, Delinquencies Decline in November

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YOUNGSTOWN, Ohio — Foreclosure rates in the Youngstown-Warren-Boardman metropolitan statistical area declined in November 2014 from the same period the year before, CoreLogic reports.

Based in Irvine, Calif., CoreLogic is a financial data provider.

The foreclosure rate among outstanding mortgage loans here was 2.03% in November 2014, a decrease of 1.27 percentage points from November 2013, when the rate was 3.30%, according to the most recent CoreLogic data. Foreclosure activity in Youngstown-Warren-Boardman was higher than the national foreclosure rate, which was 1.48% for November 2014, down from 2.33% a year earlier.

In Ohio, the foreclosure rate was 1.43% in November, down from 2.21% a year earlier.

Also in Youngstown-Warren-Boardman, the mortgage delinquency rate decreased. According to CoreLogic data for November, 6% of mortgage loans were 90 days or more delinquent compared to 7.2% for the same period last year, representing a decrease of 1.2 percentage points.

In Ohio, the 90-plus-day delinquency rate was 4.44% in November, down from 5.42% a year earlier, and the U.S. rate for November was 4.11%, down from 5.11%.

SOURCE: CoreLogic.

Published by The Business Journal, Youngstown, Ohio.

Published by The Business Journal, Youngstown, Ohio.