Foreclosure Rates in Jackson Increase

Foreclosure rates in Jackson have increased for the month of May over the same period last year, according to CoreLogic. According to newly released data from CoreLogic on foreclosures for the Jackson area, the rate of foreclosures among outstanding mortgage loans is 2.54 percent for the month of May, an increase of 0.73 percentage points compared to May of 2009 when the rate was 1.81 percent. Foreclosure activity in Jackson is lower than the national foreclosure rate which was 3.15 percent for May 2010, representing a 0.61 percentage point difference. Also in Jackson, the mortgage delinquency rate has increased. According to CoreLogic data for May 2010, 8.44 percent of mortgage loans were 90 days or more delinquent compared to 6.84 percent for the same period last year, representing an increase of 1.60 percentage points. Published: Mon, Jul 12, 2010

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